Sunday, September 4, 2011

Technical Analysis Sept 2011: PCHEM (5183)



PETRONAS CHEMICALS GROUP BERHAD


Observation from Chart:-

2 Sept 2011, PCHEM retest upper line of descending triangle.

Will it break through or retrace down?

If able break through upper triangle line, next resistant would be RM6.65 level.
If break down RM6.00 strong support level, subsequent support would be RM5.77

Other indicator:-
MACD toward bullish touching BUT still trade at negative region, downtrend itinerary.
Stochastic %K already trigger buy call BUT pending confirmation.

Let watch closely.

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

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