Sunday, June 9, 2013

Technical Analysis June 2013: PUNCAK (6807)

 
PUNCAK NIAGA HOLDINGS BHD '

Observation from Chart:-

PUNCAK (6807) forming ascending triangle pattern.

Will it break through the resistance, RM1.93?

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

High possibility will retest RM1.93 soon.
If the momentum is positive, it will break through the resistance & go higher high.

Immediate resistance @ RM1.93 level.
Subsequent resistance @ RM2.25 level.

Immediate support @ MA20 level.
Strong support @ triangle lower band.

Let's watch closely.

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