Thursday, November 29, 2012

Technical Analysis Nov 2012: MFLOUR (3662)

MALAYAN FLOUR MILLS BERHAD

Observation from Chart:-

MFLOUR (3662) break down RM1.345 support level.

How low will it go?

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

High probably it might further retrace down.
Immediate support would be RM1.17 level.

If rebound, immediate resistance level would be MA20, RM1.345 level.
Subsequent resistance, RM1.41 level.

Let's watch closely.

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