Thursday, September 20, 2012

Technical Analysis Sept 2012: THPLANT (5112)


TH PLANTATIONS BERHAD

Observation from Chart:-

THPLANT is forming descending triangle with RM2.34 support.

Will it break through upper triangle line resistance?

Other indicator:-
MACD trade at negative region, downtrend itinerary.
Stochastic %K already trigger SELL call.

High probably it might retest RM2.34 support level again.

As for now, it do facing MA100 & MA200 resistance, it might need time consolidate before break through upper triangle resistance. Or strong bullish sentiment to break through it.

Let's watch closely...

0 comments:

Post a Comment