Saizen REIT's sell signal on the MACD was negated today with the MFI turning up and forming a higher low in the process. Are things picking up? The price closed at 17c today which is a resistance level provided by the previous high on 26 Aug 09. However, the volume which accompanied the upmove today was much lower and in fact, the negative divergence between price and volume from early October till now is quite clear.
If 17c is taken out convincingly, the initial target is 19c. The rapidly declining 100wMA at 21c should put a cap on gains should 19c be taken out this week. I continue to see support at 15.5c and will wait to accumulate at that level.
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2 comments:
not sure how the macd green bar is calculated but the white candle was the result of 5 x 1 lot buy up at 17c done throughout the day, the last 1 lot buy up was at 1705hrs without which it would have been a gravestone doji (?) candle
Yes, I saw that too. I will wait patiently to collect at 15.5c. If it does not revisit 15.5c, well, too bad for me. ;)
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