The past week has seen the bail-out plan causing mix-feeling in the market. Due to the volatility of the market, I hold my urge to dash into the stock market, thus the lack of posting. Over the weekend, I scan through the chart and discover 2 potential gems that could possibly make some money this week.
Etika (5FR)
Key resistance broken. Etika could see more upside potential, after staging a strong break above its key resistance at 0.65 and went on to create new high at 0.775
Indicators are bullish. Buy signal is generated with 3EMA crossing above 15 EMA. Buy signal is further confirmed with the appearance of Bollinger Squeeze. With MACD also crossing above signal line, it suggest that the upside momentum should continue. The fact that OBV are rising and RSI in over-brought zone suggest that demands are high and people are still queuing to buy.
Support. 15EMA should act as a decent support level.
Biosensors (B20)
Breaking of key resistance could suggest more upside
Key resistance. Biosensors could see more upside potential, if it successfully breaks above its key resistance (blue circle) at 0.835. And might possible see it test the next resistance at 0.87. Failure to break above 0.835 could see the price retrace back to test its key support at 0.75Indicators are bullish. Buy signal is generated with 3EMA crossing above 15 EMA. Buy signal is further confirmed with MACD crossing above signal line and surge into bullish zone. The fact that OBV are rising and RSI slanting towards 70%, suggest that demands are high and upward momentum should continue.
Key Support is at 0.75
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