Wednesday, 27 July 2011

Case Study - Affin (Potential Symmetrical Triangle Breakout)

1. Trendline : Consolidatoin in symmetrical triangle -- pending breakout (Neautral)
2. Bolingger Band : Start to open that potentially make price more volatility, sign of breakout (Bullish)
3. Candle Stick : White Body (Bullish)
4. ADX : Uptrend with weak momentum (Bullish)
5. MACD : Bullish crossover above 0 (Bullish)
6. RSI : Rebounce and touching 50% (Bullish)
7. Stochastic : Rebounce and break up 80% (Bullish)
8. Volume Distribution: High selling force by Sharks especially during market end to retailer (Bearish)

Conclusion: 6 Bulll 1 Bear 1 Neautral

Entry Price: 3.51
Profit Taking: 3.61, 3,71, 4.07 (Target Price if symmetrical triangle breakout with volume support)
Cut Loss: 3.40

Remarks: Watch up the volume distribution for recent days, not to be trapped as big sharks are dumping. However, if breakout with high volume and strong buying pressure would have handsome profit (~17.6%). Thus, monitor closely on this counter!

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