Mudajaya today, 11/10/2010 showed that below:
Sto slow=below 80 still oversold timing
Adx=showed not a strong uptrend
Vol= low for uptrend which mean buyer still not interested to buy at any price
B.b= Consolidation range
Movement=1st day share price up
Wait for them to break at resistance level RM 4.66....??
Based on the newspaper reading on 08/10/2010 for MUDAJAYA (counter code: 5085)
Mudajaya news stated today that yesterday, MUDAJAYA failing to make full disclosure on the company's investment in the Indian's IPP project for the market to make informed decisions.
Based on my analysis:
Fibonnaci retracement showed that MUDAJAYA share price now at support level.
Indicator preferences:
ADX showed that this is still a downtrend
Sto Slow showed oversold timing which is below 80 points
Volume showed high volume at downtrend which means still a lot of seller panic selling their shares based on bad news today.
However, we has to confirm first for uptrend by waiting another next white candle at the support level before any trading movements....
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