Thursday, December 8, 2011

Technical Analysis Dec 2011: SAPCRES (8575)


SAPURACREST PETROLEUM BERHAD

Observation from Chart:-

SAPCRES retest RM4.34 resistance level?

Will it break through the resistance?

Other indicator:-
No reversal candlestick been formed.
MACD at positive region, it is uptrend itinerary.
Stochastic %K already trigger BUY call.

High probably will retest RM4.34 resistance level.
If the bull strong enough, it might break through & retest RM4.50 level.
Else, it might retrace down MA20 support level.

Let watch closely.

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