Tuesday, March 1, 2011

Technical Analysis Mar 2011: SAPCRES (8575)


SAPURACREST PETROLEUM BERHAD

Observation from Chart:-

SAPCRES have been retrace down from RM3.90 high to RM3.36

It have been attempt 3X at RM3.36 level & now forming decending triangle pattern.
So, RM3.36 is current strong support level (also MA50 support level).

If selling pressure too high, it might future break down.

Next level of support, RM3.12 & RM2.90

However, if able break up the triangle upper line with huge volume, it might retest RM3.74 & RM3.90 resistant.

Let watch closely for entry opportunity.


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

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