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FBMSCAP still bearish..

Written By Unknown on Thursday 29 November 2012 | 9:14:00 pm

Eventhough there was a hammer on the support but did not get any bullish confirmation and ended with another black candle.



Indicators
1 ) Trendline - below the downtrend line .. ( Bearish )
2)  Support/Resistance - Broke below the previous low at 11475( Bearish ) 
3) MACD -Bearish Crossover and many red ( Bearish )
4) RSI - Broken below 30% (Bearish) ,
5) STO - Broke below 20% and bullish crossover (Slightly Bearish)
6) Ichimoku -  a) Price coming entering from the support cloud (Bearish).
                       b) Conversion line  below the base line (Bearish).
                       c) Price close below the baseline ( Bearish) .


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Conclusion:
Bearish
Testing the next support at 11354 which is next lower low.. Better hold any trading on 2nd n 3rd liner stocks temporary until the picture is clear.

Resistance11475 /11596 / 11695 / 11757 / 11905 / 12107 / 12187
Support -     11354 / 11200 / 11123 / 11030
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