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Alam Broke the support at 0.715

Written By Unknown on Saturday, 10 November 2012 | 12:15:00 pm

We thought Alam was able to formed a higher low at 0.715 support with the Bullish Harami Cross on 07 November but however it was not able to sustain and plunge down 0.665




Indicators
1) Trendline - Broke below the Uptrendline and now sideways.. and on 09 Nov it started to formed a downtrend line if continue to bear 
2) Support/Resistance - Formed higher high  (Bullish)
3) MACD -Bearish Crossover  (Bearish)
4) RSI - Broke below 70% (Bearish)

5) STO - Broke below 80%. (Bearish)
6) Ichimoku - a) Above  support cloud (Bullish).
                       b) Conversion line above the base line (Bullish).
                       c) Price above the baseline ( Bullish)
7) Company Performance - Earning returning to positive and next result will be around the corner at 19 November onwards..

Stock Performance Chart for Alam Maritim Resources Berhad




Conclusion:
Bullish -
Let wait for the next higher low  which is higher at 0.59 (Previous higher low)

Previous Buy Call on 07 November 
E ( Entry) :0.74 ( Closed at or above it)  - Failed to meet entry price 
S ( Stop Loss) : 0.715  
P ( Profit) :0.77
RRR (Risk to Reward Ratio) = 0.83 (RISKY)


NEW
E ( Entry) :0.68( Closed at or above it)  
S ( Stop Loss) : 0.64
P ( Profit) :0.73
RRR (Risk to Reward Ratio) = 1.25 (Average)

E ( Entry) :0.68( Closed at or above it)  
S ( Stop Loss) : 0.64
P ( Profit) :0.77
RRR (Risk to Reward Ratio) = 2.25 (Slightly Rewarding)






Resistance at     0.67 /  0.695 / 0.715 / 0.735 / 0.78 / 0.79 / 0.815 
Support   at   0.645 / 0.59
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