Sunday, April 5, 2009

Bigger White Candle Ahead?

Since 16 Mac 2009, Genting had strong rally for 12 trading days bull run. Bigger white candle ahead?

From Technical Analysis (TA),

Accumulation/Distribution
-> Accumulation is gaining up.
Average Directional Index
-> Positive DI cross over negative DI on 23 Mac 2009, bull run was continuing.
Bollinger Band
-> Closing price was inline with upper band indicating ranging will be breakout to trending.
Moving Average Convergence Divergence
-> MACD line started to cross over signal line since 19 Mac 2009 from trough indicating strong rebound.
Momentum
-> Momentum was building up since 16 Mac 2009.
Moving Average (14d, 25d, 50d & 100d)
-> Price line cross over all the 14MA, 25MA, 50MA and 100MA indicating strong rebound.
On Balance Volume
-> OBV line is increasing with price increasing, indicating bull run will be on going.
Parabolic Stop & Reversal
-> Green dotted line indicating bullish.
Relative Strength Index
-> Relative Strength stood at 83% which indicating overbought level.
Stochastic Indicator
-> %K still cross above %D which indicating bullish but located at overbought level.

Conclusion
Most of the TA indicator is bullish. When indicator cannot get better, it will go wrong again! Be greedy when others are fearful; be fearful when others are greedy.


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