Monday, December 19, 2011

Technical Analysis Dec 2011: OLDTOWN (5201)


OLDTOWN BERHAD

Observation from Chart:-

OLDTOWN rebound from MA50 support level.

Will it break through RM1.14 resistance level?

Other indicator:-
MACD bullish crossover & trade at positive region, uptrend sign.
Stochastic %K already trigger BUY call.

Immediate resistance would be around RM1.14 level.
Subsequent resistance, RM1.17 level.

If retrace down, it might retest MA20 support.

Let watch closely.

1 comment:

  1. OLDTOWN needs more volume for greater momentum.

    ReplyDelete