Saturday, September 15, 2012

Technical Analysis Sept 2012: MFLOUR (3662)


MALAYAN FLOUR MILLS BERHAD

Observation from Chart:-

MFLOUR (3662) is retest RM1.39 support level.

Will it rebound or break down future?

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

High probably it might retest immediate resistance level, MA20.

If break down RM1.39 support, subsequent support would be around RM1.20 level.

Let's watch closely.

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