May 29 2009, 05:07 PM
QUOTE
Recommendation
TOPGLOV reached a Wave 5 high at RM6.20 (20 May ’09) with grossly overbought and bearish divergent
signals. Since our buy call (at RM4.02) of 7 January 2009, TOPGLOV had breached our target of RM4.64.
With the negative indicators like CCI, DMI, MACD and Stochastic, we now recommend taking profits on
TOPGLOV. It would now head lower on its retracement move towards its RM5.15 and RM5.60-zone.
TAKE PROFIT (TECHNICAL) on rallies for TOPGLOV with weaker support areas at RM5.15 and RM5.60,
with selling activities at RM5.80 and RM6.20 capping any rebound for this stock.
TOPGLOV reached a Wave 5 high at RM6.20 (20 May ’09) with grossly overbought and bearish divergent
signals. Since our buy call (at RM4.02) of 7 January 2009, TOPGLOV had breached our target of RM4.64.
With the negative indicators like CCI, DMI, MACD and Stochastic, we now recommend taking profits on
TOPGLOV. It would now head lower on its retracement move towards its RM5.15 and RM5.60-zone.
TAKE PROFIT (TECHNICAL) on rallies for TOPGLOV with weaker support areas at RM5.15 and RM5.60,
with selling activities at RM5.80 and RM6.20 capping any rebound for this stock.
This post has been edited by aeronic: May 29 2009, 05:08 PM
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