Friday, November 12, 2010

Charts analysis

WCT : Testing RM3 psychological level, also a support level. 50-MA broken. Once Rm3 broken to form a lower-low, this is a down-trending stock then. Double-top seen too, and reduced SELLING volumes seen today. That could be a good 'news' for those holding WCT.

Tenaga : RSI at 26, trading at support 8.50, hammer shown. High selling volumes seen. Those are four nice pointers technically to BUY Tenaga at RM8.40 today, in my point of view. So, cant blame me to be greedy, right? Thought W.Buffett said be greedy when others are in fears? One of my client holding Tenaga.

AirAsia : Closed at 2.33 with reduced SELLING volume. That is a GOOD pointer. Strong support at 2.25, wait for stochastic bullish crossover at oversold region for second pointer and trading at support 2.25 level for third pointer. If you want, wait for the first histogram to appear for fourth pointer and it will be beautiful if hammer formed in support level for your fifth pointer. Five technical pointers are ENOUGH and convincing for me to BUY to TRADE. I dont know if any investors bullish on AirAsia. Being technical, we dont need to reach much of its latest fundamentals!! RSI at 45. So, WAIT ... stalk to buy. Do note that the double-top formed and that is BEARISH. So, the risk is high as it might reverse to be a downtrending stock.


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