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Will SKPETRO outbeat the bearish KLSE

Written By Unknown on Thursday, 29 November 2012 | 9:26:00 pm

Will SKPETRO prove itself it is another outstanding counter again against the tide of bear of KLSE..





Indicators
1) Trendline - Broke above the Uptrendline (Bullish)
2) Support/Resistance - Formed higher low (Bullish)
3) MACD -  Formed 4R1G signal..(Bullish) . Waiting for bullish continuation confirm of another green bar..
4) RSI -  stagnant and hovering above 30%.. still in standby waiting to break up or below..
5) STO - Bullish Crossover and heading towards 50% .. (Bullish).
6) Ichimoku - a) Above  support cloud (Bullish).
                       b) Conversion line above the base line (Bullish).
                       c) Price above the baseline ( Bullish)
7) Candlestick - Possible Doji Star Bearish )


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Conclusion:
Bullish -
Hanging on the 20d MA with a doji pattern.. If can further go up will formed another green bar on the MACD and will confirm a bullish continuation.



E ( Entry) :2.85 ( Closed at or above it)
S ( Stop Loss) : 2.79
P ( Profit) :2.89 
RRR (Risk to Reward Ratio) = 1.5 (Average)


E ( Entry) :2.85 ( Closed at or above it)
S ( Stop Loss) : 2.79
P ( Profit) :2.93
RRR (Risk to Reward Ratio) = 1.5 (Average)

E ( Entry) :2.85 ( Closed at or above it)
S ( Stop Loss) : 2.79
P ( Profit) :3.05
RRR (Risk to Reward Ratio) = 1.5 (Average)


Resistance = 2.83 / 2.89 / 2.93 / 3.08 / 3.33
SUPPORT AT  2.8 / 2.73 / 2.68 / 2.65
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