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Tuesday, November 13, 2012

Dayang potentially forming higher low

Dayang quarterly result is around the corner at  19 Nov to 23 Nov.. Will this the reason investor are grabbing this counter in confidence that it will perform better..



Indicators
1 ) Trendline - Broke above the downtrend line .. ( Bullish)
2)  Support/Resistance - Formed higher high and in progress of forming higher low ( Bullish
3) MACD - Formed 4R1G ( Bullish) . If continued with another green signal/ white candle will confirm more bullish
4) RSI - Retracing towards 50% (Bearish) , If rebound above 50% with a white candle on next trading day will confirm more bullish 
5) STO - Both signal are meeting each other above hte 20%. If bullish crossover  on next trading day will confirm more bullish
6) Ichimoku -  a) Price above  the support cloud Bullish)
                       b) Conversion line  above the base line ( Bullish)
                       c) Price close below the baseline ( Bullish)
7) Candlestick pattern - Bullish Engulfing (bullish). 
8) Company performance - Earning positive trend and positive dividend

Stock Performance Chart for Dayang Enterprise Holdings Bhd




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Conclusion:
Bullish -


Support rebound play
E ( Entry) 2.23 ( Closed at or above it)  -
S ( Stop Loss) : 2.19
P ( Profit) :2.27
RRR (Risk to Reward Ratio) = 1 (Average)

E ( Entry) 2.23 ( Closed at or above it)  -
S ( Stop Loss) : 2.19
P ( Profit) :2.34
RRR (Risk to Reward Ratio) = 2.75 (Rewarding)





Resistance-  2.25 /  2.28 / 2.36
Support -   2.22 / 2.2 / 2.16 / 2.12

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