Thursday, August 25, 2011

Technical Analysis Aug 2011: IOICORP (1961)



IOI CORPORATION BERHAD

Observation from Chart:

Seem like IOICORP is forming double bottom at RM4.49 level BUT pending confirmation.

If able break through RM4.78 level, then confirmed double bottom been formed.

However, RM4.99 is current strong resistant level.

Other indicator:-
1. MACD at negative region BUT formed bullish crossover.
2. Stochastic %K been trigger buy call.

If retrace down, RM4.49 is current support level.

Let watch closely...

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

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