Tuesday, February 21, 2012

Technical Analysis Feb 2012: MASTEEL (5098)


MALAYSIA STEEL WORKS (KL) BHD

Observation from Chart:-

MASTEEL is forming ascending triangle.

Will it break through & go higher?

Other indicator:-
1. MACD trade at positive region, uptrend sign.
3. Stochastic %K already trigger BUY call, pending confirmation.

From the volume of acquire, high potential it will break through RM1.18 resistance, next resistance would be RM1.28 level.
If retrace down, it might retest lower triangle line as support level.

Let watch closely for break out...

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