Monday, May 7, 2012

Technical Analysis May 2012: WELLCAL (7231)


WELLCALL HOLDINGS BHD

Observation from Chart:

WELLCAL keep going higher high, non stop bull run.

Will it break through RM2.00 psychology level?
Other indicator:-
MACD at positive region, uptrend sign.
Stochastic %K already reach overbought stage.

Most probably correction / consolidate will be in place soon.
Immediate support @ RM1.65 level or MA20 level.
Subsequent support @ RM1.50 level.

Do watch out up coming quarterly result announcement.
Let watch closely for entry opportunity...

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