Monday, 11 July 2011. MRCB – Stock Pick

MRCB ( 1651 : 2.30 ) : Cap at Double Top 2.35
Description
Resistance : 2.35
Support : 2.09 2.20
RSI of 61
RSI is rising
STOCHASTIC
It is riding on an upswing
TREND INDICATOR.
Up
Comment
While it is capped at the Double Top of 2.35, a pullback is likely to find support at the lower boundary of 2.20
Trading Strategy
Buy lower around 2.20. Stop loss is at 2.09