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KNM bullish attack confirmation after hammer support

Written By Unknown on Wednesday, 12 September 2012 | 9:09:00 pm

Today KNM closed magnificently with a bullish engulfing to confirm the hammer (Bullish Reversal). Will it make a comeback?







 Indicators
1 ) Trendline -  above  Uptrendline ( Bullish)
2)  Support/Resistance - Formed higher low (Bullish)
3) MACD - (Bullish)
4) RSI - Heading toward 50% ( Slightly Bullish)
5) STO - Bearish crossover( BEarish
 6) Ichimoku -  a) Trying to break out and upwards from 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


Result : Bullish
Entry (E) = If close above 0.72 (Check price during 4.30pm ~ 4.50pm). Avoid risking to buy in the morning and face downtrend during end of trading.
Stop loss = 0.66
Take Profit = 0.78 / 0.85


Support at  0.69 / 0.56
Resistance at 0.8 / 0.87
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