Technical Analysis July 2012: MUDAJAYA (5085)

MUDAJAYA GROUP BERHAD

Observation from Chart:-

MUDAJAYA still consolidate side way, forming bolinger band squeeze.

When will it break through?

Other indicator:-
MACD trade at positive region, uptrend stock.
Stochastic %K pending trigger BUY call.

If market sentiment is bullish, high potential it will break through strong resistance, RM2.80 level.

Else, tt will keep consolidate above MA20 support level.

Subsequent support @ MA50 level.

Let's watch closely.