Friday, June 7, 2013

Technical Analysis June 2013: MHB (5186)

MALAYSIA MARINE AND HEAVY ENGINEERING HOLDINGS BERHAD

Observation from Chart:-

MHB retrace down from strong technical rebound.

Will it forming double bottom?

Other indicator:-
MACD indicator at negative region, downtrend sign.
Stochastic %K trigger SELL call, pending confirmation.

Immediate support @ RM3.17 level.
Potential retest this level & forming double bottom before rebound.
Or at least it must forming higher low & higher high, in order to conclude up
trend sign.

Let watch closely.

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