Technical Analysis Apr 2012: BENALEC (5190)

BENALEC HOLDINGS BERHAD

Observation from Chart:-

BENALEC break down MA20 support level, it keep going decending.

Now, BENALEC retest RM1.16 support level.

Will it rebound?

Other indicator:-
No reversal candlestick been formed.
MACD indicator trade at negative region, downtrend sign.
Stochastic %K at oversold stage, pending BUY call triggering.

Immediate resistance MA20 level.
Subsequent resistance @ RM1.21 level.

If break down, next support RM1.12 level.
Let's watch closely.