Friday, September 23, 2011

Technical Analysis Sept 2011: BENALEC (5190)



BENALEC HOLDINGS BERHAD

Observation from Chart:-

After BENALEC break down RM1.21 support level, it was no rebound. (-RM0.21 or -17.4%)

Today, it do retest RM1.00 physiology level & formed a bullish engulfing rebound.

This round rebound, it might retest RM1.21 resistant level.

Other indicator:-
MACD indicator at negative region, downtrend sign.
RSI & Stochastic %K extremely oversold stage, buy call been trigger.

Let watch closely.

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

1 comment:

  1. Dear Friend,

    There is a resistance and support around RM1

    Being construction, I would not jump in very quickly for long trade.

    Given the world crisis, just wait as you may be surprised it reaching RM0.75

    Volatile times. Wait until you have some compulsion to buy.

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

    ReplyDelete