Wednesday, May 23, 2012

Technical Analysis May 2012: DIALOG (7277)


Observation from Chart:-

DIALOG forming bolinger band squeeze & facing strong resistance at RM2.28 level.

Already more than 5X attempt but unable break through.

How about this round?

Other indicator:-
1. No reversal candlestick been formed.
2. MACD trade at negative region, downtrend sign.
3. Stochastic %K already trigger BUY call.

Immediate resistance RM2.28 level.
Immmediate support MA20 / MA50 level.

If able break through RM2.28 level, potential retest MA100 resistance level.
Else, it do have posiblity of break down MA50 support level.

Let watch closely for break out...


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