Crescendo Berhad as at 7/12/2011

Crescendo Corporation Berhad A stock with good fundamental background (from my point of view) has started its downtrend from May 2011. After 2 price bottoms formation, the stock has enter to price range of 1.4 to 1.46 with low volume. However, before this, there is no clear distribution or accumulation that can be detected through VSA that I have newly learnt. Today, this stock has broken the upper price range of 1.46 and closed at 1.49. MACD is a significant indicators for confirmation of bullish signal if the MACD forms a higher high than previous high. Another strong resistance for the next 2 days will be 1.5, a critical resistance for trend reversal. Failure in breaking 1.5 in these 2 days might implies a further downtrend or sideways movement.