Sunday, November 3, 2013

Technical Analysis Nov 2013: SKPETRO (5218)

SapuraKencana Petroleum Berhad (5218)
Observation from Chart:

SKPETRO forming higher high & higher low.

Will it retest RM4.50 resistance level ?

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

If able break through RM4.34, it might be good opportunity.
Once breakthrough RM4.34, it's full fill higher high & higher low, uptrend will continue.

Immediate support @ MA20 level.
Subsequent support @ MA50 / MA100 level.

Let's watch closely.

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