Monday, May 13, 2013

Technical Analysis May 2013: COASTAL (5071)

COASTAL CONTRACTS BHD (5071)

Observation From Chart:-

COASTAL hugging bolinger upper band go higher high & formed shooting star.

Will it retrace down?

Other indicator:-
MACD at positive region, uptrend sign.
Stochastic %K on SELL call itinerary.

Immediate support @ RM2.16 level.
Subsequent support @ RM2.09 level.

Due to overbought stage, high probably it will retrace down, retest support level.
It's an entry opportunity after correction completed.

Let's watch closely

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