Sunday, June 28, 2009

LCL Corporation Bhd

LCL Corporation closed at RM 0.725 during Friday's trading session.

The stock closed up on high volume a sign that investors are buying into the stock.

The technical charts are also showing bullish signs.

The MACD indicator just made a bullish crossover.

The +DI is above the -DI. However ADX is still at the lower end which means that the stock price although moving up, will most likely be a weak up trend.

RSI is increasing and is not in overbought region.

The resistance is still at RM 0.76. Support is at RM 0.62 level.

A way to ride on this uptrend is to buy when the stock moves above RM 0.73 and to take profit when RSI shows decreasing momentum. Stop loss level can be set at slightly below RM 0.64 which is near the 50 day moving average closing price.

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