Monday, January 16, 2012

Technical Analysis Jan 2012: UOADEV (5200)



UOA DEVELOPMENT BHD

Observation from chart:-

16 Jan 2012,UOADEV succeed break through bolinger band squeeze.

How high will it go?

Other indicator:-
MACD moving toward positive region, uptrend sign.
Stochastic %K already trigger BUY call.

Immediate resistance, RM1.60 level.
Subsequent resistance, RM1.72 level.
Strong support is MA50 & MA100 level.

If the bull strong enough, it might retest RM1.72 level.
Else, it might retrace down, retest support.

Let watch closely.

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