Monday, July 11, 2011

Technical Analysis July 2011: QL (7084)



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. 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. 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. Actually what is the purpose of share buy back?

    ReplyDelete
  4. 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