On Friday, Air Asia formed a nice hammer and rebound form the support at 3.37. Can this be an indicator to bull again?
Observation
1) Trendline - Uptrend( Bullish)
2) Formed higher high- ( Bullish)
3) MACD -Kissing and awaiting for the 4R1G and this will be a crucial turnover point ( Undetermined)
4) RSI - Retracing toward 70%( Undetermined ) . Bull if rebound and bearish if break below it
5) Sto - formed bearish crossover and broke 80% (Bearish )
6) ADX - good momentum and bullish ( Bullish)
7) Candle Stick - Hammer on support 3.37(Undetermined ) Waiting for next day signal. If White candle and goes up it will be bullish
8) Volume Distribution - Selling Pressure is more due take profit (Bearish)
2 Points
3 Points
Conclusion
Winner BULL
Need to wait for it to rebound and break the resistance to start another round of bull run
Entry Price 3.52 ( Previously was 3.46 but updated with new Fib sets)
Take Profit at 3.67 and 3.86
Support at 3.45
No comments:
Post a Comment