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.

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

Posted by XTrader at 08:18
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