Tuesday, 26 July 2011. MRCB – Stock Pick

MRCB ( 1651 : 2.33 ) : Right angle triangle
Description
Resistance : 2.50 2.61
Support : 2.23 2.27
RSI of 57
RSI is neutral
STOCHASTIC
It remains positive
TREND INDICATOR.
Sideways
Comment
It is currently developing a positive Right angle triangle, which will be confirmed on an upside breach of 2.35.
Immediate upside is the overhead trendline of 2.50
Trading Strategy
Buy. Stop loss is at 2.23