Sunday, October 16, 2011

Technical Analysis Oct 2011: MFLOUR (3662)


MALAYAN FLOUR MILLS BERHAD

Observation from Chart:-

14 Oct 2011, MFLOUR
(3662) is retest MA100 level.

Will it break through MA100 or retrace dwon?

If able break through MA100, next resistant would be RM7.80 level.
If retrace down, immediate support at MA50 level. Subsequent support around RM7.05 level.

Other indicator:-
MACD is moving toward positive region.
Stochastic %K already already reach overbought stage.

It might be consolidate between MA50 to MA100 level, before go higher.

Let watch closely.

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

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