Tuesday, September 11, 2012

Technical Analysis Sept 2012: GCB (5102)


GUAN CHONG BHD

Observation from Chart:

GCB forming bolinger band squeeze.

When will it break out?

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

If break down RM1.98 level, it might be facing selling preasure.
Subsequent support @ MA100 level.

If break through RM2.08 level, higher high is confirmed & uptrend will be continue.

Let's watch closely.

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