Monday, June 6, 2011

Technical Analysis June 2011: BSTEAD (2771)


Observation From Chart:

BSTEAD is forming Ascending Triangle Pattern.

It current resistant is around RM6.00 or so call psychology level.
It strong support level should be bottom line of the triangle.

Since BSTEAD retrace down retest triangle bottom line, the rebound from RM5.60 till RM5.85 level were "hugging" bottom line of triangle.

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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