Friday, July 1, 2011

Technical Analysis July 2011: MAGNA (7617)



MAGNA PRIMA BERHAD

Observation from Chart:-

As today, 1 July 2011 MAGNA (7617) already overbought stage.

It keep trying break through the resistant, RM1.04 level BUT unsuccessful.

MACD histogram turned into RED color.
Stochastic %K been trigger SELL call yesterday.

Most probably it will retrace down & retest RM0.96 support level.
Meantime, strong support level around RM0.92

Let watch closely...




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

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