Thursday, 19 January 2012

19/01

Counters to look out for.

GLP
GLP shown a confirmation today from yesterday shooting star candle.

But do be careful as a inverse H&S is spotted. And long-term upward sloping trend lines.

Stop loss will be the yesterday shooting star candlestick high of 1.91. You can choose to add abit of  buffer which depends on your risk appetite.

UOB
UOB shown 2 trend reversal candle yesterday and today. Shooting star and doji candle. If you're looking to short, wait out for confirmation.

The resistance at at 16.93 is expected to be strong - the long-term & short-term fibo levels coincides at that level.

UOB is currently supported by the short-term fibo 38.2 (or 61.8) level and the 100ma. If you're looking to long, do look for this level.




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