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Wednesday, May 5, 2010

MEDC.JK - Speculative Buy on Triangle Formation

Support and Resistance:


Line Studies

Fibonacci

Pivot

Moving Average

Bollinger

3325

0% @ 3125

3166

SMA 15 @ 2943

Upper @ 3207

3150

38.2% @ 2771

3083

SMA 25 @ 2816

Middle @ 2869

2975

50% @ 2662

3016

SMA 50 @ 2700

Lower @ 2530

2775

61.8% @ 2553

2933 (Pivot)

-

-

2600

100% @ 2200

2866

-

-

2400

-

2783

-

-

-

-

2716

-

-


Recommended Actions:

  • Buy @ 2975 (support line, pivot point, and SMA 15).
  • Average Buy @ 2775 (support line, Fibo 38.2%, and pivot support).
  • 1st Sell Target @ 3150 (resistance line and pivot resistance).
  • 2nd Sell Target @ 3325 (resistance line).
  • Stop loss (or simply wait) if the price goes below 2600.

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