ASTRO Update (Symbol 5076)

ASTRO made a MACD Crossover on 22 Apr 08 and a trade was initiated on 23 Apr 08 with a buy stop order at RM3.46 and stop loss level of RM3.29.

This trade turned out to be a winner. ASTRO closed at RM3.82 on 14 May 08. That is a gain of about 10% within 15 trading days.

The price pattern made an inverted hammer yesterday. If the price goes below RM3.80 it will be suggesting weakness in the near term.

Both Stochastic and RSI indicator is reaching the top end which indicates that the stock may be reaching overbought condition soon.

MACD is still above its signal line so there is no sell signal from the MACD yet.

One approach will be to ride on the up trend and to take profit if the price falls below RM3.78.

ASTRO (Symbol: 5076)

ASTRO (Stock code: 5076) made a MACD crossover yesterday. That is a bullish sign.



The stochaistics chart has also made a crossover which indicates strength in the near term.

The 14 day RSI is at neutral level and is neither in overbought or oversold level.

The chart is indicating a support at RM 3.30. One approach is to buy when the price exceeds RM 3.46 and to set a stop loss at RM 3.29. The resistance after RM 3.46 is at RM 3.72.