Technical Analysis May 2011: IGB (1597)

IGB CORPORATION BERHAD

Observation from Chart:-

Since March 2011, IGB been trade on side way, it keep consolidate within RM2.10 & RM2.18 range.

From the chart, it is very obvious that forming bolinger band squeeze.

Will it break up or break down???

If able break up bolinger band, it is a good opportunity to entry. It will retest RM2.32 level.

However, if break down the bolinger band, next support would be RM2.00 physiology support level.

Let watch closely for entry opportunity...


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