Thursday, August 16, 2012

Technical Analysis Aug 2012: THHEAVY (7206)


TH HEAVY ENGINEERING BERHAD

Observation from Chart:-

THHEAVY (7206) retest RM0.47 strong resistance again.

Will it break through ascending triangle resistance?

Other indicator:-
1. MACD trade at positive region, uptrend sign.
2. Stochastic %K trigger BUY call, pending confirmation.

If able break through RM0.47 level, uptrend is confirm. (higher high + higher low)
If retrace down, immediate support @ ascending triangle lower line or MA20 level.

Let's watch closely.

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