Tuesday, May 15, 2012

Technical Analysis May 2012: AFG (2488)


ALLIANCE FINANCIAL GROUP BHD (2488)

Observation from Chart:

15 May 2012,AFG retest MA100 support level.

Will it rebound?

Other indicator:-
1. MACD moving toward negative region, downtrend sign.
2. Stochastic %K on SELL call itinerary.

High probably it will consolidate @ MA100 support level.
If the market sentiment remain bearish, potentially longer term downward correction.

Let's watch closely.

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