Sunday, September 16, 2012

Technical Analysis Sept 2012: LIONIND (4235)


LION INDUSTRIES CORPORATION BERHAD

Observation from Chart:

LIONIND forming descending triangle pattern?

Will it break through upper triangle line resistance?

Other indicator:-
MACD trade at negative region, downtrend sign.
Stochastic %K still on SELL call itinerary.

Immediate resistant would be upper triangle line.
Immediate support RM1.08 level.

If the bull strong enough, it might break through the resistance.
Else, it might keep consolidate @ current phase.

Let's watch closely...

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