SKPETRO Formed MACD 4R1G Signal

SKPETRO is the merge company of Sapuracrest and Kencana and in the Oil and Gas Sector which are in play after tax cut after announce at budget recently

Let Check the stock Analysis Chart for October 12 2012

Indicators
1) Trendline - Broke above the down trendline (Bullish)
2) Support/Resistance - Formed higher low (Bullish)
3) MACD -4R1G (Bullish)
4) RSI - Inclining and test 70% (Bullish)  .If breaks above 70% will indicate more bullish
5) STO - Bullish Crossover and broke above 80% (Bullish).
6) Ichimoku - a) Above  support cloud (Bullish). 
                       b) Conversion line above the base line (Bullish). 
                       c) Price above the baseline ( Bullish)
7) Candlestick - Bullish Engulfing with a black candle. ( Bullish). 


Conclusion:
Bullish -

Broke the Entry price and resistance at 2.42

E ( Entry) :2.44 ( Closed at or above it)

S ( Stop Loss) : 2.42     

P ( Profit) :2.47

RRR (Risk to Reward Ratio) = 1.5 (Average)

 

E ( Entry) :2.44 ( Closed at or above it)

S ( Stop Loss) : 2.42     

P ( Profit) :2.51

RRR (Risk to Reward Ratio) = 3.5 (Rewarding)

 

E ( Entry) :2.44 ( Closed at or above it)

S ( Stop Loss) : 2.42     

P ( Profit) :2.53

RRR (Risk to Reward Ratio) = 4.5 (Rewarding)

 

Next Resistance at  2.48 / 2.51 / 2.57 / 2.66
Support at 2.42/ 2.37 / 2.3