Thursday, June 14, 2012

Technical Analysis June 2012: IJMPLNT (2216)


IJM PLANTATIONS BERHAD

Observation from Chart:-

IJMPLNT rebound from RM2.84 level & succeed break throguh RM3.10 resistance level.

Reversal candlestick been formed?
What's the immediate support?

Other indicator:-
MACD moving toward positive region, uptrend sign.
Stochastic %K already trigger SELL call, pending confirmation.

High potential it will retest support & consolidate before go higher.
If retrace down, immediate support would be RM3.10 level.
Subsequent support MA20 level.

Let watch closely.

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