Tuesday, May 15, 2012

Technical Analysis May 2012: GAMUDA (5398)

Gamuda Berhad (5398)

Observation from Chart:

GAMUDA forming bolinger band squeeze within RM3.54 & RM3.74 level.

Will it break up or down?

Other indicator:-
1. MACD trade at negative region, downtrend sign.
2. Stochastic %K already trigger BUY call, pending confirmation.

High probably it will retest RM3.74 resistance level.
If the bull strong enough, potentially break through bolinger upper band & go higher.

If retrace down, RM3.54 is the immediate support.

Let's watch closely.


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