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Dayang taken profit at 2.34 and 2.42

Written By Unknown on Sunday 16 December 2012 | 9:57:00 pm

Managed to took 5%and 10% profit from this counter within 1 month.



Previous Buy Call

E ( Entry) 2.26( Closed at or above it)  -
S ( Stop Loss) :2.23
P ( Profit) : 2.34
RRR (Risk to Reward Ratio) = 2.67 (Slightly Rewarding)


E ( Entry) 2.26( Closed at or above it)  -
S ( Stop Loss) :2.23
P ( Profit) : 2.42
RRR (Risk to Reward Ratio) = 4 (Rewarding)




Indicators
1 ) Trendline - Broke above the downtrend line .. ( Bullish)
2)  Support/Resistance - Formed higher high and  formed higher low ( Bullish
3) MACD - Bullish Crossover ( Bullish) .
4) RSI - Rebounding from 50% and testing 70%  (Bullish) ,
5) STO -Starting of Bearish Crossover ( .Bearish)
6) Ichimoku -  a) Price above  the support cloud Bullish)
                       b) Conversion line  above the base line  Bullish)
                       c) Price close above the baseline  Bullish)



Conclusion:
If it retrace downwards it may might potential formed bullish flag.

Resistance  2.5 / 2.65
Support -    2.46  / 2.36 2.28 / 2.25 / 2.22 / 2.2 / 2.16 / 2.12














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