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This is another counter which I found visitors searching for in my blog. Personally, I'm not vested. Here is a TA for those who are interested.
On 31 Dec 09, price action formed a wickless white candle, closing at $1.30 for 2009, a record high at the time. On the first trading day of 2010, price action formed a long legged doji with price closing 1c lower. MACD had a sell signal that day and the price has been declining since then.
Today, the price closed unchanged but the relieve this grants to shareholders might be just an illusion as the candlestick formed today is what is commonly called a gravestone doji. With the MACD about to form a bearish crossover, the MFI declining after forming a lower high which spells reduced buying momentum and a declining OBV which tells the chart reader that distribution has been ongoing, more downside cannot be ruled out. Read more...[caption id="attachment_4141" align="alignright" width="150" caption="Genting 8 jan 10 dc"]
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This is another counter which I found visitors searching for in my blog. Personally, I'm not vested. Here is a TA for those who are interested.
On 31 Dec 09, price action formed a wickless white candle, closing at $1.30 for 2009, a record high at the time. On the first trading day of 2010, price action formed a long legged doji with price closing 1c lower. MACD had a sell signal that day and the price has been declining since then.
Today, the price closed unchanged but the relieve this grants to shareholders might be just an illusion as the candlestick formed today is what is commonly called a gravestone doji. With the MACD about to form a bearish crossover, the MFI declining after forming a lower high which spells reduced buying momentum and a declining OBV which tells the chart reader that distribution has been ongoing, more downside cannot be ruled out. Read more...
[/caption]
This is another counter which I found visitors searching for in my blog. Personally, I'm not vested. Here is a TA for those who are interested.
On 31 Dec 09, price action formed a wickless white candle, closing at $1.30 for 2009, a record high at the time. On the first trading day of 2010, price action formed a long legged doji with price closing 1c lower. MACD had a sell signal that day and the price has been declining since then.
Today, the price closed unchanged but the relieve this grants to shareholders might be just an illusion as the candlestick formed today is what is commonly called a gravestone doji. With the MACD about to form a bearish crossover, the MFI declining after forming a lower high which spells reduced buying momentum and a declining OBV which tells the chart reader that distribution has been ongoing, more downside cannot be ruled out. Read more...
