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Friday, August 12, 2011

MUHIBAH ( 5703 : 1.30 ) : Positive RSI divergence (Jupiter)

Resistance : 1.45 1.56
Support : 1.20
RSI of 54
RSI is on a positive divergence
STOCHASTIC
It is turning upwards, indicating a technical rebound
TREND INDICATOR.
Up
Comment
With the RSI on a buy divergence, a technical rebound to 1.45 is likely. Pullback support is at 1.23, due to a minor capping at the Double Top of 1.33. Resistance is at 1.56.
Trading Strategy
Buy for technical rebound to 1.45. Stop loss is at 1.20

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