Sunday, November 27, 2011

Technical Analysis Nov 2011: TOPGLOVE (7113)


TOP GLOVE CORPORATION BERHAD

Observation from chart:

TOPGLOVE trade above MA50 support level & retest MA20 resistance level.

Will it break through MA20?

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

If break through MA20 level, it might retest MA100 resistance level.
If retrace down, MA50 is immediate support.
Subsequent support, RM3.86 level.

Let watch closely...

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