Friday, December 10, 2010 , 12/10/2010 10:33:00 PM

Stock Alert - StraitsAsia Resource

StraitsAsia is a very hot counter in our forum recently, currently even being mentioned in class by our new students.



Trend: Uptrend.

Observations:

- Uptrend trendline, confluence with horizontal resistance turned support level of 2.39.

- With MACD multiple reds and Stochastic @ oversold region, do watch for a potential rebound to occur at 2.4 range in next 2-3 trading days. Once taken place, MACD will give boy signal of 4red1green, Stoch will give boy signal of bullish crossover.

E = after cfm rebounded off 2.4 level
S = 4% below support
P = 2.8 or higher

WARNING: MACD showing bearish divergence. Hence i wouldn't recommend going long recklessly UNLESS higher low confirmation.

Author's personal opinion only. Disclaimer applies.

Saturday
Afternoon
11 Dec '10