Monday, October 29, 2012

PERDANA How High?

How far can PERDANA go? Well, seem like it will going to move closer to the 2nd resistance at 1.10/1.11. So expect another bounce off from this level. It is good time to sell out your position and buy lower at the 1st resistance area 0.89/0.90 (now turn support).


The Trading Plan

Downtrend
Looks for buy at around 0.89~0.92 price level. In the event any breakdown from the 1st support (resistance turn support @ 0.89/0.90), there will be high chances that the short term uptrend will be delay/end and it is advisable to exit all your position in PERDANA. 

Uptrend
Once breakout from 1.10/1.11, we will be on the smooth ride towards target 1.50 and possible extended target of 2.00.

Happy Trading and Good Luck! 
Note: This chart TA is part of BullTrader FireBull Techniques

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