Sunday, May 6, 2012

Technical Analysis May 2012: FAVCO (7229)


FAVELLE FAVCO BHD

Observation from Chart:

FAVCO retest RM1.50 resistance level.

Will it break through? Or retrace down?

Other indicator:-
MACD at positive region, uptrend sign.
Stochastic %K still on BUY call itinerary.

If the bull strong enough, most probably can break through RM1.50 resistance.
Subsequent resistance RM1.55 level.

Immediate support @ MA20 level.
Subsequent support @ MA50 level.

Let watch closely for entry opportunity...
 

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