ID :
190502
Wed, 06/22/2011 - 16:44
Auther :
Shortlink :
http://m.oananews.org//node/190502
The shortlink copeid
KASB Securities Limited and Economics Research- The Keystone - Equities
Bullish formation supported by indicators
According to KASB Securities Limited, the index managed to sustain above its 30‐DMA and in the process has created a “Bullish Piercing line” which is indicative of a bottom. Moreover as a composite, formation of most of the key stocks also support the bullish view.
The Stochastic Oscillator has reversed yet again and has regenerated a buy signal, thus supporting the bullish view. Moreover the RSI too has shown improvement after testing its support trendline.
KASB Securities Limited now suggest a buy on the index.
Analysis and Overview:
Though the index opened marginally negative, it soon rebounded and took to a strong uptrend to close well in the positive. Volumes showed a decent increase of 33.46% and stood at 68.17 mn. The index sustained above its 30‐DMA and in the process has created a “Bullish Piercing line” which is indicative of a bottom. Moreover as a composite most of the key stocks’ formations also support the bullish view.
The Stochastic Oscillator has reversed yet again and has regenerated a buy signal, thus supporting the bullish view. Moreover the RSI too has shown improvement after testing its support trendline (blue line, lower portion).
KASB Securities Limited now suggest a buy on the index.
The first support is at 12,258 points and the second support is at 12,192 points. The first resistance is at 12,395 points and the second resistance is at 12,467 points.
According to KASB Securities Limited, the index managed to sustain above its 30‐DMA and in the process has created a “Bullish Piercing line” which is indicative of a bottom. Moreover as a composite, formation of most of the key stocks also support the bullish view.
The Stochastic Oscillator has reversed yet again and has regenerated a buy signal, thus supporting the bullish view. Moreover the RSI too has shown improvement after testing its support trendline.
KASB Securities Limited now suggest a buy on the index.
Analysis and Overview:
Though the index opened marginally negative, it soon rebounded and took to a strong uptrend to close well in the positive. Volumes showed a decent increase of 33.46% and stood at 68.17 mn. The index sustained above its 30‐DMA and in the process has created a “Bullish Piercing line” which is indicative of a bottom. Moreover as a composite most of the key stocks’ formations also support the bullish view.
The Stochastic Oscillator has reversed yet again and has regenerated a buy signal, thus supporting the bullish view. Moreover the RSI too has shown improvement after testing its support trendline (blue line, lower portion).
KASB Securities Limited now suggest a buy on the index.
The first support is at 12,258 points and the second support is at 12,192 points. The first resistance is at 12,395 points and the second resistance is at 12,467 points.
