On Friday, Kepland rebound off the major support at $3.85 and closed at $3.94 with low volume of 2.55 million shares traded.
A long white candle sticks with short upper/lower shadow display the strength of the rebound off the support.
RSI & MACD are bearish though both indicators show sign of reversal.
Important Resistance of Kepland: $4.04
Immediate Support of Kepland: $3.85
Currently prices are supported by the technical / 100 days MA at $3.85.
We would like to bring your attention to the “purple line” 100 days MA and see how the prices rebound off on Apr 09, Oct 09, Jan 10, Mar 10, May 10 and finally Aug 10.
100 days MA in Kepland has been supporting the price action since global stock market reversal on Apr 09.
The latest prices action will be at 12/13 Aug where Kepland yet again rebounded off the 100 days MA.
We would suggest buying at $3.85 major support if interested.
Lastly we like to give credit to our reader Konok for pointing out this good stock pick.
On Friday, Wilmar gap down and closed at $6.13 with high volume of 18.2 million shares traded.
A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow). This usually implies a continuation of a bearish trend. There have been 3 falling windows in the last 50 candles–this makes the current falling window even more bearish. The two candles preceding the falling window were black, which makes this pattern even more bearish.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
Both RSI & MACD are bearish as MACD perform a cross down on Thursday.
Important Resistance of Wilmar: $6.22
Immediate Support of Wilmar: $6.02
Currently prices are supported by the technical / 50 days MA and rising trend line at $6.02.
At this point of time with Wilmar reporting poor earning results on 13/Aug, it would be crazy to attempt any entry for this counter.
We will be watching this stock on Monday for any selling pressure and most importantly the major support at $6.02.
More selling down may continue if support at $6.02 breached at high volume since the rising trend line is broken
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