Sunday, April 22, 2012

Technical Analysis Apr 2012: JCY (5161)

JCY INTERNATIONAL BERHAD
Observation from Chart:-

JCY is retest RM1.40 resistance level.

Will it break through? Or retrace down?

Other indicator:-
MACD trade at positive region, uptrend sign.
RSI & Stochastic %K already reach overbought stage.

High posibility will consolidate or retrace down before go higher.
If retrace down, MA20 is immediate support.
If the bull strong enough, potential break through RM1.40 level & go higher.

Let's watch closely for entry opportunity.
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