Technical Analysis Mar 2012: OLDTOWN (5201)

OLDTOWN BERHAD

Observation from Chart:-

21 March 2012, OLDTOWN retest MA50 support level.

Will it rebound?

Other indicator:-
MACD trade at positive region, uptrend sign.
Stochastic %K NO trigger BUY call.

If able rebound, immediate resistance would be RM1.34 level.
If selling preasure too high, it might break down MA50 support, look for RM1.20 level.

Let's watch closely.