Thursday, February 23, 2012

Technical Analysis Feb 2012: MRCB (1651)


MALAYSIAN RESOURCES CORP BHD

Observation from Chart:

23 Feb 2012, MRCB have been break down MA100 support level.

How low will it go?

Other indicator:
No reversal candlestick been formed.
MACD moving toward negative region, downtrend itinerary
Stochastic %K still at SELL call.

Immediate support @ RM1.93
Subsequent support @ RM1.82

If rebound, it might retest MA100 resistance level.

Let's watch closely.

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