Saturday, January 1, 2011

Bursa Malaysia looks good for an up turn

The chart shows that Bursa has a good chance to at least turn up in the short term fom here.
This counter is co-related to the volume of the market. As the market is having good volume lately there is a good chance for this counter to turn up at least for the short term.
The three (3) arrows show in the MACD, RSI and Stochastic chart seem to confirm that what I observe is true. MACD is about to form the golden cross and both RSI and Stochastic are in the lower area.
So it will be a good strategy to buy on weakness from now and sell it off when it hit the resistance shown by the upper parallel line.


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