Wednesday, April 21, 2010

M&M Financial in an uptrend... BUY

M&M Financial is in an uptrend with other Financial Institution stocks.

(1) The ADX is at 18.33, almost touching 20, with the +DI at 25 and -DI at 13.

(2) The MACD charts - the MACD line has given a positive crossover the MACD signal line.

(3) On the trend line, it touched the lower end of the line at 367 and bounced back on 19th April, it also crossed over and closed above the 20 Day EMA.

All these are positive signals for this stock.  Some resistance is at 403, once it crosses that it can touch higher levels.

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