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RSAWIT - Formed double weak hammer

Written By Unknown on Saturday, 17 November 2012 | 20:50

After RSAWIT failed to formed a higher low on the 5 November it went down to the next support at the 0.905 and formed double weak hammer at 0.91.



Indicators
1 ) Trendline -  Broke above the down trendline (Bullish )
 2)  Support/Resistance -Formed double hammer on the supports.. If rebound will indicate a higher low which it is bullish signal..
3) MACD - Formed 4R1G  (Bullish )
4) RSI - Broke below  30%  (Bearish
5) STO -Bullish Crossover  (Bullish )  .If rebound from 20% and it will indicate more bullish
6) Ichimoku - a) Below resistance cloud (Bearish). 
                       b) Conversion line below the base line (Bearish). 
                       c) Price below the baseline ( Bearish)
7) Candlestick - Formed double hammer and waiting for bullish continuation confirmation after a white candle




Conclusion:
Bullish - 

Entry Price at  0.93
Stop Loss at 0.90
Take Profit at  0.95
Risk to Reward Ration ( RRR) =0.67 (Risky)

Entry Price at  0.93
Stop Loss at 0.90
Take Profit at  0.97
Risk to Reward Ration ( RRR) =1.33 (Average)

Entry Price at  0.93
Stop Loss at 0.90
Take Profit at  1.06
Risk to Reward Ration ( RRR) = 4.33 (Rewarding)


Resistance - 0.925 /  0.945 / 0.96 / 0.99 / 1.00 / 1.02
Support      - 0.905 / 0.86 / 0.835
 
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