hello TLKM :)) ---
TLKM: Key Reversal Day Last day’s TLKM action added further substantiation to resistance provided by the 23.6 fib retracement of the October 5th to November 5th rally at 8,200. The day’s range was enveloped completely by the preceding bar’s range casting a shadow on TLKM bullishness. Yesterday’s key reversal day has bullish implications. The combination of a daily key reversal and daily RSI divergence suggest formation of an bounce out. For the reversal scenario to remain valid, price needs to remain above 8,200(and ideally above the 23.6 Fib). If stock backers take head of the developing price action and drive the TLKM back north , there is likely to be a steady move up to the 8,700 level where the 50.0 fib of the same stock run sits with the 20-day SMA coming to back it up. A move beyond the 61.8 fib at 9,000 will be more difficult to perform. Not only is the fib protecting this level, but consolidation at this are going back to Sept will be another brace for resistance. http://www.financeindonesia.org/showthread.php?1851-TLKM-Key-Reversal-Day regards, D
