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Sunday, June 19, 2011

GAMUDA double hammer time... Could be a sign to rebound?



Observation
1) Trendline - Uptrend Bullish
2) Formed higher high- Bullish
3) MACD - Bearish Crossover ( Bearish) and waiting for 4R1G with high volume for bullish reversal
4) RSI - Awaiting to break 30% ( Awaiting for next day data), with white candle it will break above 30% and showing that this is a good bullish reversal
5) Sto - Kissing and waiting to break 20% ( Awaiting for next day data), with white candle it will break above 30% and showing that this is a good bullish reversal
6) ADX - weak momentum and bullish
7) Candle Stick - Hammer 2x

Conclusion
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

Entry Price 3.82
Resistance at 3.97 & 4.25
Support at 3.65

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