Monday, September 10, 2012

Technical Analysis Sept 2012: AFG (2488)


ALLIANCE FINANCIAL GROUP BHD (2488)

Observation from Chart:

AFG retest MA100 support level.

Will it rebound or break down this support?

Other indicator:-
MACD trade at negative region, downtrend sign.
Stochastic %K pending trigger BUY call.

If break down immediate support, MA100 level, it might be huge selling preasure.
Subsequent support @ MA200 level.

If rebound, RM4.05 & MA20 would be immediate resistance.
Subsequent resistance @ RM4.27 level.

Let's watch closely.

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