Sunday, March 18, 2012

Technical Analysis Mar 2012: ZELAN (2283)


Zelan Berhad

Observation from Chart:

ZELAN retest RM0.51 resistance level.
Will it break through?

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

If able break through RM0.51 resistant, next resistant would be RM0.545 level.
Subsequent resistance, RM0.58 level.

If retrace down, MA20 is immediate support.
Subsequent support, MA50 or RM0.45 level.

Let's watch closely.

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