RSAWIT ( 5113 : 1.12 ) : Sell – hit 1.13 target
Description
CPO
Resistance : 1.15
Support : 1.05 1.11
RSI of 64
RSI is recovering
STOCHASTIC
It is overbought, indicating that it is due for a correction
TREND INDICATOR
Comment
It has hit our target of 1.13 on the buy call of 4/4/2012. As the upside is likely to face heavy resistance at the Double top of 1.15, it is best to take profit. A dip below 1.11, will pull it down to 1.05
Trading Strategy
Take profit. Limited upside
Source:Jupiter Securities Research 17 April 2012
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