Sunday, March 4, 2012

Technical Analysis Mar 2012: UOADEV (5200)


UOA DEVELOPMENT BHD

Observation from chart:-

UOADEV keep retest MA20 support level.

Will it rebound or break down the support?

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

Immediate resistance, RM1.60 level.
Subsequent resistance, RM1.72 level.
Strong support is MA20 & MA50 level.

If reversal candlestick been formed, potential retest RM1.60 level.
Else, it might keep consolidate.

Let's watch closely.

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