Friday, June 22, 2012

Technical Analysis June 2012: WELLCAL (7231)


WELLCALL HOLDINGS BHD

Observation from Chart:

WELLCAL is forming non stop higher high & higher low.

21 June, it's closed @ RM2.00 psychology level.

Will it break through? Or retrace down to support 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 @ RM1.82 or MA20 level.
Subsequent support @ MA50 level.

Let's watch closely...

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