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Sunday, October 31, 2010

STI and IndoAgri

STI closed with a bullish engulfing candle on Friday, which was supported by 40 SMA. Stochastic has dipped into oversold where %K is at the verge of tilting up. These are some evidence to suggest that we may have some sunny days ahead even though the correction may not be over yet. In the event if the correction persist, trendline A and trendline B will serve as supports.



IndoAgri ( Swing Trade Setup )

Friday's closing was a hammer at bullish star position. CCI has dipped into oversold. Trigger, target and stop loss are shown in the chart. Time frame is 3~5 days.



Admittedly, in my last post on IndoAgri. I have neglected the formation of an Ascending Triangle leading to a strong breakout. The current pull back could be the effect of a throw back after the breakout. If this is the case, more upside is expected on a longer term time frame.

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posted by Market Wizards @ October 31, 2010 Comments: 0