Still no trading for me with all the negative sentiment globally but today KLSE rebound after hitting the support at 1594.
Indicators
1 ) Trendline - below the downtrend line .. ( Bearish )
2) Support/Resistance - Broke above the previous low at 1600 ( Bearish )
3) MACD -Bearish Crossover ( Bearish )
4) RSI - Broken below 30% (Bearish) ,
5) STO - Broke below 20% and bearish crossover (Bearish)
6) Ichimoku - a) Price coming entering from the support cloud (Bearish).
b) Conversion line below the base line (Bearish).
c) Price close below the baseline ( Bearish) .
7) Candlestick pattern - Bullish Engulfing Candle (Bullish).
Conclusion:
Bearish
Eventhough rebound above 1600 but we are not sure whether this is dead cat bounce.. As long it is below the downtrend line and below the ichimoku cloud i think it is still bearish..
Stay sideline until we are confirmed rebound..
Resistance- 1621 / 1649 / 1668 /1681 /1725
Support - 1600 / 1594 / 1581
Chung
analysts dog got reason to tell why today share is up ?
2012-11-29 00:13