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Sunday, July 3, 2011

Kinsteel Testing the resistance

On Friday, this counter tested the resistance at 0.755  and manage to hit our entry price at 0.765 with only 200 lots only. This is why i always set my Entry price above the resistance above by 1 to 2 pips above and below the support.

1) Trendline - Uptrend Bullish
2) Formed higher high- Bullish
3) MACD - Going up but still below 0( Bearish)
4) RSI -Broke above 50%  and testing the 70% ( Bullish )
5) Sto - Broke above 80%  ( Bullish )
6) ADX - good momentum and bullish ( bullish )
7) Candle Stick -Shooting Star (Bearish )
8) Volume Distribution - High buying with high volume from the retail investor ( Bullish)

  2 Points

         6 Points


Winner BULL

Hit the Resistance and retrace and showing a shooting star. Will this stock overcome and break the resistance again..

Entry Price 0.765
Resistance at 0.8 and 0.87
Support at 0.7

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

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