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SYF formed a hammer at 20d Ma

Written By Unknown on Monday, 5 November 2012 | 8:30:00 pm

It seems that it has been a long time since SYF went up with big volume after 17 October.. After reaching the highest at 0.8 ( Peak of the bollinger band) it retraces to the next support at 0.74..

Let check the stock Analysis Chart at 05 November 2012




Indicators
1) Trendline -  Moving Side ways -- Awaiting to rebound from 0.74 support
2)  Support/Resistance - Awaiting for Higher low at 0.74
3) MACD - Negative (Bearish
4) RSI - Broke below  70% (Bearish
5) STO - Broke below 80%(Bearish
6) Ichimoku - a) Broke Above  support cloud (Bullish). 
                       b) Conversion line above the base line (Bullish). 
                       c) Price above the baseline ( Bullish)
7) Chart Pattern - Formed a hammer at 20d Ma at 0.75 Bullish)

Conclusion:
Bullish -

E ( Entry) : 0.77 ( Ensure closed above this price)
S ( Stop Loss) : 0.73        
P ( Profit) :  0.81
RRR (Risk to Reward Ratio) = 1. (Average)

E ( Entry) : 0.77 ( Ensure closed above this price)
S ( Stop Loss) : 0.73        
P ( Profit) :  0.86
RRR (Risk to Reward Ratio) = 2.25 (Slightly Rewarding)

Resistance at 0.8 / 0.825 / 0.875 / 0.915
Support at 0.74 / 0.69 / 0.64


Always be cautious that if KLSE break below 1649 it will probably drag all the counter bottom and will negate the Technical Analysis breakout..




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