Wednesday, November 21, 2012

Technical Analysis Nov 2012: YTLPOWR (6742)

YTL POWER INTERNATIONAL BHD
Observation from Chart:-

YTLPOWER retest RM1.52 support level & rebound?

How high will it rebound?

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

Immediate resistance @ MA20 level
Subsequent resistance @ MA50 level.
High probability it will retest immediate resistance.
If the market sentiment bullish, it might go higher.

If break down RM1.52 support, it might facing high selling preasure.

Let's watch closely.

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