Sunday, November 28, 2010

Technical Analysis Nov 2010: E&O (3417)


Observation From Chart:

E&O is forming Ascending Triangle Pattern.

It resistant is around RM1.25 & strong support level should be bottom line of the triangle.

This round it should re-test RM1.25 again & retrace down to triangle bottom line before break up RM1.25 level. Most analysts will take a position once the price breaks through the top line of the triangle with increased volume. 

However, if break down the bottom line of the triangle, it might be high risk. May consider cut loss & protect capital.

Let watch closely for entry opportunity.


Pls buy at your own risk & consult your broker b4 make any buy or sell order!!!


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