Wednesday, 20 July 2011. LIONIND – Stock Pick--Technical rebound

LIONIND ( 4235 : 1.75 ) : Technical rebound
Description
Resistance : 1.94
Support : 1.70
RSI of 47
RSI is weakening
STOCHASTIC
It is oversold
TREND INDICATOR.
Down
Comment
It has bounced off the 61.8% retracement at 1.70. A technical rebound is likely to test the Double Top of
1.94
Trading Strategy
Buy. Stop loss is at 1.70