Wednesday, December 14, 2011

Technical Analysis Dec 2011: UOADEV (5200)


UOA DEVELOPMENT BHD

Observation from chart:-

UOADEV traade below MA20 level.

Will it break through MA20?

Other indicator:-
MACD trade at negative region, downtrend sign.
Stochastic %K still on BUY call itinerary.

Strong resistance is around RM1.46 level, which is MA50 level.
Strong support is around RM1.17 level.

High probably it will retest MA20 level.
If the bull is strong enough, it might retest MA50 level as well.

Let watch closely.

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