Wednesday, May 2, 2012

Technical Analysis May 2012: MUHIBAH (5703)


MUHIBBAH ENGINEERING (M) BHD

Observation from Chart:

2 May 2012, MUHIBAH retest RM1.23 support level.

Will it rebound? Or break down this support?

Other indicator:-
MACD trade at negative region, downtrend sign.
Stochastic %K at oversold stage, pending trigger BUY call.

Technical rebound should be in place soon.
If rebound, immediate resistance would be MA20 level, RM1.28
Subsequent resistace, MA50 which is RM1.32 level.

If break down RM1.23 support, next support would be RM1.13 level.

Let watch closely for the opportunity...

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