Wednesday, August 14, 2013

Technical Analysis Aug 2013: MUDAJAYA (5085)

MUDAJAYA GROUP BERHAD

Observation from Chart:-

MUDAJAYA forming ascending triangle.

Will it break out the resistance?

Other indicator:-
MACD trade at positive region, uptrend stock.
Stochastic %K pending trigger BUY call.

 Although momentum is there, it would be better wait for official break out.

If break up, bull run will kick off.
However, it break down MA20 support, potential facing high selling pressure.

Let's watch closely.

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