Saturday, February 11, 2006

DataCraft (D06) - To Buy or not to buy ?


After 12 sessions of upward movement, the chart looks tired and extended. Although, Spinning Top can move either way, I tends to lean more onto the decline. Why? The Spinning Top also looks like Bearish Harimi in concept), current nervous market condition, STI overbought and the following indicators provided clues to confirm its severity in tandem; pointing to the overbought condition! Stochastic @ 80 and –ve crossed, RSI @ 69 and started curling down. However, main uptrend is not violated. This can be seen from the ADX and MACD chart.Better to be on the cautious side; surely, the experienced traders will agree with me, how painfully it will be to err and be caught on the dumping (distribtion)cycle.
FA: I'm sure all the good news had been factored in and in conclusion: if in it already, hold ,and for current sideliners, better to keep hands in pockets now and not on keyboard!

0 Comments:

Post a Comment

<< Home




MY Email : Smartyinvestor@Gmail.com

YahooWeather Bull Fish Business Times TeleText Future Market Investor College Bloomberg NewsStreet Directory Yahoo Financial Google News CNA Financial CPF National Library Board Reuters e-finex HK Market News CommerceAsia ADVFNListed Company