Thursday 28 July 2011

Case Study - DXN (Second Wave)?


Rienne, per your request.

1. Trendline: Uptrend (Bullish)
2. Double bottom (circled with pink) with hammer form on support (1.34), potential bullish reversal pattern --  Bullish
3. Support : Above 20, 30 & 200 EMA (Bullish)
4. Bollinger Band : Lower and upper band trending up, indication for uptrend for shorterm (Bullish)
5.ADX: Uptrend with strong momentu (Bullish)
6. MACD: Above 0 (Bullish)
7. RSI : fluctuating below 70%, pending break above 70% (Neutral)
8. Stochastic: fluctuating between 50% & 80%, pending break above 80% (Neutral)
9. Volume Distribution:

Conclusion: 7 Bull 2 Neutral

Entry Price: 1.42
Profit Taking: 1.47, 1.50, 1.53
Cut Loss: 1.38

Remarks: Beware of head & shoulder pattern if break below 1.34. Also, please wait for confirmation of candlestick on next day before position your trading. Good luck!

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