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Scomi broke away from the Bullish Pennant

Written By Unknown on Monday, 1 October 2012 | 9:37:00 pm

Last Friday, Scomi breakout from the bullish pennant and went up and today it ended with a doji star..

Let check the Chart Analysis Stock on 1st October 2012



Indicators
1 ) Trendline - Above the bullish trendline (Bullish)
 2)  Support/Resistance - formed higher high and higher low (Bullish)
3) MACD - Upwards (Bullish)
4) RSI - Retrace below 70% (Bearish)
5) STO - Formed Bullish crossover (Slightly Bullish). 
6) Ichimoku - a) Above  support cloud (Bullish). 
                       b) Conversion line above  the base line (Bullish). 
                       c) Price above the baseline ( Bullish)
7) Candlestick - Formed a Gravestone Doji ( Bearish
8) Chart Pattern - Breakout from Bullish Pennant.. Target at 0.55

Conclusion:
Bullish

E ( Entry) : 0.4( Ensure closed at or above it)
S ( Stop Loss) : 0.35             
P ( Profit) :0.43
RRR (Risk to Reward Ratio) = 0.6 ( Risky)


E ( Entry) : 0.4( Ensure closed at or above it)
S ( Stop Loss) : 0.35             
P ( Profit) :0.45
RRR (Risk to Reward Ratio) = 1( Average)

E ( Entry) : 0.4( Ensure closed at or above it)
S ( Stop Loss) : 0.35             
P ( Profit) :0.47
RRR (Risk to Reward Ratio) = 0.86 ( Slightly Rewarding)

Next Resistance at 0.43/ 0.455 / 0.48 / 0.5 / 0.55 ( Bullish Pennant TP)
Support at  0.35 / 0.32 / 0.3 / 0.28
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