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Saturday, July 9, 2011

Gamuda Retracement after hitting the resistance.

Hope everybody profited from the previous rally and take the profit when it hit the resistance as mentioned before. ( View this previous post).

Yesterday it is showing a retracement which is good for the next round of bullish. So let wait for this bull to rest and ride again smashing those new resistances..

1) Trendline - Uptrend Bullish
2) Formed higher high- Bullish
3) MACD - Formed 4G1R and retracing ( Bearish) . Let monitor until we get 4R1G and rebound on the support..
4) RSI -  Break below 70% (Bearish)
5) Sto - Bearish Crossover and break below 80% ( Bearish)
6) ADX - strong momentum and bullish
7) Candle Stick - Gap Down with black Candle ( Bearish)
8) Volume Distribution - Selling Pressure is high at the last minute ( Bearish)

5 Points

       3 Points

Winner Bear ( Throw down wrestling style)

This counter retracing the support
Entry Price 3.87
Resistance at 3.97 and 4.25
Support at 3.8 and 3.69

Daily Buy Call in Forum..  (Do not forget to view here for daily Stock Picks)

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