Monday, 19 Dec 2011. IJM – Stock Pick

IJM ( 3336 : 5.32 ) : Accumulation
Description
Resistance : 5.74
Support : 5.18 5.27
RSI of 37
RSI is approaching oversold
STOCHASTIC
It is oversold
TREND INDICATOR
Down
Comment
It may have bottomed out at the 50% retracement of 5.27, due to some accumulation support at the current
level, as shown on the high volume. The 50% upside retracement is at 5.74
Trading Strategy
Buy. Stop loss is at 5.18

Disclaimer

This report is provided for information purposes only.