Tuesday, February 28, 2012

Technical Analysis Feb 2012: ZELAN (2283)


Zelan Berhad

Observation from Chart:

ZELAN found a support at RM0.45 low & rebound.
How high will it rebound?

Other indicator:-
MACD trade at positive region, uptrend sign.
Stochastic %K trigger BUY call.

High posibility it will retest RM0.545 resistance level.
If able break through RM0.545 resistant, next resistant would be RM0.58 level.
If retrace down, RM0.45 is immediate support.

Let's watch closely.

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