Monday, December 17, 2012

Technical Analysis Dec 2012: UOADEV (5200)

UOA DEVELOPMENT BHD

Observation from chart:-

UOADEV still unable break through RM1.77 resistance level on 3rd attempt.

Will it retest RM1.69 support level again?

Other indicator:-
MACD moving toward positive region, uptrend sign.
Stochastic %K trigger SELL call, pending confirmation.

Immediate resistance @ RM1.77 level.
Subsequent resistance @ RM1.82 level.

Immediate support @ MA20 level.
Subsequent support @ RM1.69 level.

According last two attempt, the moment unable break through RM1.77, it will retrace down to RM1.69 support.

So high probably it might retest RM1.69 level.

Let's watch closely.

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