Friday, February 18, 2011

Technical Analysis Feb 2011: Zelan (2283)

Zelan Berhad

Observation from Chart:

ZELAN have been retrace down from RM0.63 till RM0.53 (-RM0.10 or -16%)

Historical, Zelan will form a bullish reversal around RM0.50 level so let wait for reversal candlestick been formed.

However, if future break down, next support level will be around RM0.45.
If rebound, it might retestRM0.565 level

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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