Wednesday, December 12, 2012

Technical Analysis Dec 2012: SKPETRO (5218)

SapuraKencana Petroleum Berhad (5218)

Observation from Chart:

SKPETRO succeed break through RM2.93 resistance.

How high will it go?

Other indicator:-
MACD trade at positive region, uptrend sign.
Stochastic %K still on BUY call.

Higher high & higher low been firmed, uptrend will continue.
If retrace down, it might be good opportunity.

Immediate support @ RM2.93 level.
Subsequent support @ MA50 / MA100 level.

Let's watch closely.

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