This week, stock under the watch out is AMTEK ENGINEERING LTD (M1P). This stock has been trending lower since early 2012.
Technical Analysis (Ichimoku Charting)
Tenkan sen had cross over Kijun-sen while in the ichimoku cloud region, and had been diverging away from each other, a sign of increase in momentum of the price action. Chikou span, has also cut through tenkan-sen and kijun-sen, more important, it has cut above the ichimoku cloud high. The next resistance level to watch out for will be 585.
Trading Strategy (Ichimoku Trading)
A long at current level or better with stop loss below 500, this is almost 17% risk. However, this risk could be reduce further in a couple of days time to 10% with stop loss level is shifted to 530. First level to worried about the long position will be around 555. 630 will be a level to watch out if the price action manage to break through.
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