Thursday, November 24, 2011

Technical Analysis Nov 2011: KEURO (3565)


Observation from Chart:-

KEURO is forming ascending triangle.

Will it break through upper triangle line, RM1.12 level?

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

It might retest RM1.12 resistance level.
If the bull is strong enough, it might break trough this resistance.

Most traders will enter into long positions when the price of the asset breaks above the top resistance, RM1.12 level.

If retrace down, immediate support would be lower triangle line.

KEURO will declare Q3 result around end of Dec 2011.
If above expectation, the bull run will continue.
Else, it might re-act another way.

Let watch closely.


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