Wednesday 27 July 2011

Case Study - MRCB


1. Trend Analysis - Sideway trading after in symmetrical triangle in past 6 monyh (Neautral)
2. Form higher high & higher low after breakout from symmetrical trianlge in past 1 month (Bullish)
3. ADX - Storng momentum (Bullish)
4. Bollinger Band : Both upper & lower band are trending up, indication for uptrend (Bullish)
5. Candle Stick: long white body (Bullish)
6. Support : Above 20, 50 & 200 EMA (Bullish)
7. ADX : Uptrend with strong momentum (Bullish)
8. MACD : trending up (Bullish)
9. RSI : Rebounce up from 50%, pending for 70 % breakout (Bullish)
10. Stochastic : Rebounce and break up 80% with bullish crossover (Bullish)
11. Volume Distribution : Strong buying pressure (Bullish)


Conclusion: 10 Bull 1 Neautral

Entry Price: 2.33 on 7/27 or 2.41 thereafter
Profit Taking : 2.52, 2.66
Cut Loss: 2.29

Remarks: Beware of high selling pressure close to market end.

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