Saturday, October 29, 2011

Technical Analysis Oct 2011: BJTOTO (1562)


BERJAYA SPORTS TOTO BERHAD

Observation from Chart:-

BJTOTO is forming bolinger band squueze, which trading within RM4.16 & RM4.26 level.

On the other view, we do observed it do forming higher low but pending higher high formation.

Short term wise, it might retest RM4.32 level & retrace down retest lower triangle line. Then we may define it forming ascending triangle.

However, if break through RM4.32 level, the higher high might be formed.
A complete cycle of higher low & higher low been formed then that's confirmed an uptrend.

Other indicator:-
MACD trade at positive region, uptrend sign.
Stochastic %K been trigger BUY call, 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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