Trend Runner Trading Adventure

Technical analysis is the forecasting of market prices by means of analysis of data generated by the process of trading. Technical analysis relies on the assumption that markets discount everything except information generated by market action, ergo, all you need is data generated by market action. Let's join and discuss the technical analysis in depth on particular stock with the traders all over the world.

Tuesday, 5 July 2011

MRCB (1651)

Entry price: 2.28
TP: 2.34, 2.4
CL: 2.24
RR:1.5
Resistance: 2.35,2.41
Support: 2.25
Trend: Break above symmetry triangle with high volume today. (break 2.25 resistance this morning, second half will test 2.28 resistance) Bullish
ADX: Bullish with momentum
MACD: Bullish start to rebounce
RSI: Yesterday below 30%, today will break above 30%
STO: above 50%, bullish
Conclusion: Bull win 5 points, bear 0 point

Posted by XTrader at 23:32
Labels:

2 comments:

  1. XTrader6 July 2011 at 06:53

    Today close at 2.30, above our entry price. ADX, MACD, RSI, STO showing strong bullish signal. Hope tomorrow continue to bull!

    ReplyDelete
  2. XTrader7 July 2011 at 08:22

    Candlestick show shooting star today (bearish signal) But don't worry, the ADX, MACD, RSI, STO still showing bullish.

    ReplyDelete

Subscribe to: Post Comments (Atom)