Tuesday, December 20, 2011

Technical Analysis Dec 2011: TCHONG (4405) Amended


TAN CHONG MOTOR HOLDINGS BERHAD

Observation from Chart:-

16 Dec 2011, TCHONG break down RM4.13 support level.

How low will it go?

Other indicator:-
MACD trade at negative region, downtrend sign.
Stochastic %K at oversold stage & trigger BUY call.

Immediate resistance would be RM4.13 level.
Subsequent resistance, MA20 level.

If retrace down, it might retest RM4.00 psychology level.

Let watch closely.

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