Monday, January 7, 2013

Technical Analysis Jan 2013: TOPGLOVE (7113)

TOP GLOVE CORPORATION BERHAD

Observation from chart:

TOPGLOVE forming ascending triangle pattern.

Will it break through the resistance?

Other indicator:-

MACD trade at positive region, uptrend sign.
Stochastic %K pending trigger BUY call.

High potential it might retest RM5.75 resistance again.
If bull strong enough, this round it will break through & go higher.

If retrace down, it might retest lower triangle support level.

Let's watch closely...

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