Sunday, October 27, 2013

Technical Analysis Oct 2013: FAVCO (7229)

FAVELLE FAVCO BHD

Observation from Chart:


FAVCO succeed breakout ascending triangle resistance, RM2.89 level ?
How high will it go?

Other indicator:-
MACD moving toward positive region, uptrend sign.
Stochastic %K confirm a BUY call itinerary.

Most probably, it able break through RM2.89 resistance.
Subsequent resistance RM3.16 level.

Immediate support @ MA20/ MA50 level.
Subsequent support @ RM2.71 level.

Let watch closely...

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