Tuesday, August 14, 2012

Technical Analysis Aug 2012: PCHEM (5183)


PETRONAS CHEMICALS GROUP BERHAD

Observation from Chart:-

PCHEM retest RM6.63 strong resistance again.

Will it break through or retrace down?

Other indicator:-
1. MACD trade at positive region, uptrend sign.
2. Stochastic %K No obvious BUY or SELL call.

If able break through RM6.63 level, uptrend is confirm. (higher high + higher low)
If retrace down, immediate support @ ascending triangle lower line.

Let's watch closely.

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