Posted by profitman > Apr 19, 2014 01:09 AM | Report Abuse
Joyous - MMode: On a bullish trend started on 27/3 by a hammer bullish reversal candle which also marked the end of its downtrend. Hit a high of 0.57 on 4 & 7/4 but came under selling pressure resulting in a 50% retracement on profit taking and possibly due to traders caught during the downtrend clearing positions. The gap up on 17/4 with volume initiates another phase of its uptrend. Broke through the resistance of 0.57 on 18/4 and is currently very bullish.
M-Mode may rise after getting back above the 200-day MAV line. If it stays above MYR0.60 today, traders may opt to purchase the stock - with a close below MYR0.55 as a stop-loss. The price target is MYR0.70, if the MYR0.65 resistance is broken. However, the stock could trend sideways if it fails to stay above MYR0.60, while further support is at MYR0.535.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
sephiroth
14,145 posts
Posted by sephiroth > 2014-04-18 17:10 | Report Abuse
mmode