Thursday, 7 July 2011. TAKAFUL – Stock Pick

TAKAFUL ( 6139 : 2.13 ) : Sell into strength
Description
Resistance : 2.42
Support : 2.12
RSI of 81
RSI is overbought
STOCHASTIC
It is overbought
TREND INDICATOR.
Up
Comment
While the current up run has an upside at 2.42, the overbought technicals suggest selling into strength. A dip
below 2.12 points to profit taking
Trading Strategy
Sell into rallies. Stop loss is at 2.12