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Sunday 21 August 2011

SBCCORP bullish

Base on insider news, SBCCORP potentially go to RM1.50 before Hari Raya.  Lets analyse from TA perspective.
Trend: Form higher low, uptrend (Bullish)
ADX: Bullish crossover bearish with momentum (Bulish)
MACD: Bull nearly kissing bear form below (Undetermine)
RSI: Cross above 30% from below indicating buy strength is back (Bullish)
STO: Touching 50% (Bullish)
Volume distribution: Strong buying force (Bullish)
Conclusion: 5 Bulls 1 Neutral
Entry price: 1.02
TP: 1.13, should we wait till 1.50?
Cut loss: 0.98

KLCI finding support at 1473

1473 is a critical support, break below, it form lower low and potential to dive further down.  All indicators show that the KLCI is bearish.  Stay sideline or cash out from stock market.  I'll closely monitor the trend, if it break above 1510, there could be a slight hope for KLCI to continue bullish.