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Saturday, July 2, 2011

CIMB potential Bullish Flag with 5% Gain

Today the chart show that CIMB have a good potential to have Bullish Breakout. Please see the analyze below for further explaination

1) Trendline - Uptrend Bullish
2) Formed higher high- Bullish
3) MACD - 4G1R ( Bearish)
4) RSI -  Floating above 70% (Undetermined)
5) Sto - Bearish Crossover and waiting to break 80% ( Bearish)
6) ADX - strong momentum and bullish
7) Candle Stick - Star star ( Undetermined)
8) Chart Pattern  = Bullish Flag with volume retracement. This pattern could take several days so just have a watchout on this counter ( Bullish)
8) Volume Distribution - Selling Pressure is high at the last minute ( Bearish)

If on Monday it form a Doji, Bullish Engulfing or Candle, RSI,MACD and STO will provide a positive outlook and high chances to be a higher low

3 Points

       4 Points


Winner BULL
Previous Target ( 23 Jun)
Entry Price 8.68
Take Profit  at 8.79 and 8.96
Support at 8.45

Today new Target ( 1 July)

Entry Price 9.05
                                             Take Profit  at 9.4 and 9.5 ( 5% from Bullish Flag Breakout)
                                             Support at 8.8 ( This support if so happen to breakout but fail on the same 
                                                                        day or the following day)


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