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JOHOTIN Bullish confirmation after bullish reversal

Written By Unknown on Wednesday, 12 September 2012 | 9:00:00 pm

Today, Johotin went up by 8% and formed a bullish engulfing to conclude a bullish confirmation after a bullish reversal ( Hammer) on the support








 Indicators
1 ) Trendline - Broke above  Uptrendline ( Bullish) . Back in Business!!
2)  Support/Resistance - Formed higher low (Bullish)
3) MACD - Formed 4R1G (Bullish)
4) RSI - Heading toward 70% ( Slightly Bullish)
5) STO - Bullish crossover( Bullish)  and it will be better if can break above 50%
 6) Ichimoku -  a) Price above support cloud (Bullish).
                          b) Conversion line above the base line (Bullish).
                          c) Price above the baseline ( Bullish)
7) Candlestick Pattern : Formed bullish engulfing above a hammer ( Bullish)


Conclusion:
Bullish



Resistance at  2.04 / 2.14 /  2.225
Support at 1.87 / 1.71/ 1.59 
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