Thursday, January 31, 2013

Technical Analysis Jan 2013: MRCB (1651)

MALAYSIAN RESOURCES CORP BHD

Observation from Chart:

MRCB break down RM1.54 strong support, facing high selling pressure.

When will it technical rebound?

Other indicator:
MACD trade at negative region, downtrend itinerary
Stochastic %K already @ oversold stage.

Immediate resistance @ RM1.40 level.
Subsequent resistance @ RM1.54 level.

Immediate support @ RM1.33 level.
Subsequent support @ RM1.26 level.

Let's watch closely.

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