Friday, 2 Dec 2011. MRCB – Stock Pick

MRCB ( 1651 : 1.95 ) : Targeting 2.17
Description
Resistance : 2.11 2.17
Support : 1.87
RSI of 53
RSI has started to recover
STOCHASTIC
It is on an upswing
TREND INDICATOR
Down
Comment
The recent correction has bottomed at the 38.2% retracement of 1.87, indicating a rebound to test a Double
top at 2.11, and possibly 2.17
Trading Strategy
Buy. Stop loss is at 1.87