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Dayang potentially forming higher low

Written By Unknown on Tuesday, 13 November 2012 | 9:40:00 am

Dayang quarterly result is around the corner at  19 Nov to 23 Nov.. Will this the reason investor are grabbing this counter in confidence that it will perform better..



Indicators
1 ) Trendline - Broke above the downtrend line .. ( Bullish)
2)  Support/Resistance - Formed higher high and in progress of forming higher low ( Bullish
3) MACD - Formed 4R1G ( Bullish) . If continued with another green signal/ white candle will confirm more bullish
4) RSI - Retracing towards 50% (Bearish) , If rebound above 50% with a white candle on next trading day will confirm more bullish 
5) STO - Both signal are meeting each other above hte 20%. If bullish crossover  on next trading day will confirm more bullish
6) Ichimoku -  a) Price above  the support cloud Bullish)
                       b) Conversion line  above the base line ( Bullish)
                       c) Price close below the baseline ( Bullish)
7) Candlestick pattern - Bullish Engulfing (bullish). 
8) Company performance - Earning positive trend and positive dividend

Stock Performance Chart for Dayang Enterprise Holdings Bhd




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Conclusion:
Bullish -


Support rebound play
E ( Entry) 2.23 ( Closed at or above it)  -
S ( Stop Loss) : 2.19
P ( Profit) :2.27
RRR (Risk to Reward Ratio) = 1 (Average)

E ( Entry) 2.23 ( Closed at or above it)  -
S ( Stop Loss) : 2.19
P ( Profit) :2.34
RRR (Risk to Reward Ratio) = 2.75 (Rewarding)





Resistance-  2.25 /  2.28 / 2.36
Support -   2.22 / 2.2 / 2.16 / 2.12
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