Monday, July 11, 2011

Technical Analysis July 2011: QL (7084)

Monday, July 11, 2011 – by Admin 4


QL RESOURCES BERHAD

Observation from Chart:-

11 July 2011, QL retest MA100 support level again.

Will it rebound? Or break through the support?

MACD at negative region, it is on downtrend sign.
Added, pending bearish crossover.

Stochastic %K been trigger sell call on 8 July 2011.

So, the rebound % is quite low & most probably is break through MA100 support.

However, RM3.10 might be the next support level.

Let watch closely...



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

4 comments:

  1. vincentJuly 11, 2011 at 8:25 PM

    Hi quah,

    HIRO has been splited and now keep trade at 0.775-0.790 level. Shall we still keep into this stock?

    ReplyDelete
  2. AdminJuly 11, 2011 at 10:23 PM

    Hi Vincent,

    As 11 July 2011, HIRO still trade above MACD positive region.
    RM0.77 is current support level.
    Strong support @ MA100, around RM0.755

    In view of share buy back keep on going, i suspect there is some good news will be announce soon.

    Have a nice day.

    ReplyDelete
  3. vincentJuly 12, 2011 at 7:13 PM

    Actually what is the purpose of share buy back?

    ReplyDelete
  4. AdminJuly 12, 2011 at 7:54 PM

    As per my analysis, there are a few factor:-

    1. While the stock oversold or under market value.

    2. For distribute treasurer share

    3. Got good news pending official announce

    ReplyDelete

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