HAI-O Enterprise Bhd had a good run since Mar 09. It broke the resistance on 27 Mar 09 and reached a high of RM3.96 on 8 May 09.
It has since pulled back and tested its 20 day moving average on Friday.
A few negative signs are developing. Firstly, the MACD indicator made a bearish crossover recently and RSI is coming down from overbought levels. +DI is also getting closer to –DI with a decreasing ADX. This shows a weakening of the up trend.
The stock should find some support at the lower Bollinger band if it breaks through its 20 day moving average.
It has since pulled back and tested its 20 day moving average on Friday.
A few negative signs are developing. Firstly, the MACD indicator made a bearish crossover recently and RSI is coming down from overbought levels. +DI is also getting closer to –DI with a decreasing ADX. This shows a weakening of the up trend.
The stock should find some support at the lower Bollinger band if it breaks through its 20 day moving average.
No comments:
Post a Comment