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.

Observation
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







Conclusion

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




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Kinsteel

Observation
1) Uptrend - Still in uptrend but have to be careful if break 0.90 better take profit
2) HH - Formed higher high at 0.95 and retracing to the support of the previous high low at 0.87
3) MACD - Still in positive
4) RSI - Uptrend and will be reach to overbought soon
5) ADX - at 28 and have slight momentum

Conclusion
Cut lost if break 0.9 and if it rebounded at 0.9 high potential another bull run streak which we can bull it together

Kinsteel

Another update on Lagging Steel Counter
 

 This counter is retracing and hit the support at 0.87 and bounce back. Wait for it to move up becoming jumping into this counter. If this counter breaks the support at 0.865 it will go further down 0.815

Kinsteel

Kinsteel
Steel Counter

All indicators are showing up except the Accumulation is going now. Now need to wait for this counter to retrace back to 0.88 and rebound with candlestick. With this condition it will obey the Higher High and Higher Low which prove that there is further upside for this counter.

E = 0.88 ( With Candle Stick Reversal / Higher low)
S = 0.85 ( if purchase this counter at 0.88 on higher low and we need to cut loss it this counter suddenly break below 0.85)
P =  0.935 and 0.975