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Sunday, February 15, 2009

Short Comfortdelgro in the mid term

In view of current STI index is in the range of side way since January & its MACD is also sideway but below the 0 line.
I would suggest to short Comfortdelgro after it had pull back twice. As chart above indicate MACD is already in the downturn direction and it is already below 0 line.On top of that both CCI & RSI also in its downtrend direction.
Support 1.28 shall turn into resistance & next support level at 1.19.
PS: Last Friday buy vol is very high, as such short only when this coming week its day trade summary had show sign of strong down turn.
Cheers for "shorting".

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