Wednesday, February 1, 2012

Technical Analysis Feb 2012: CYPARK (5184)


Observation from Chart:

31 Jan 2012, CYPARK retest RM1.71 resistance.

Will it break through the resistance & go higher?

Other indicator:-
1. MACD moving toward positive region, uptrend sign.
2. MACD bullish crossover.
3. RSI already reach overbought stage.
4. Stochastic %K still on BUY call itinerary.

It might be trading side way for consolidate OR retrace down retest support before go higher.

If retrace down, MA50 would be strong support level.
If break through RM1.71, next resistance would be RM2.09 level.

Let watch closely...


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