Tuesday, December 10, 2013

Technical Analysis Dec 2013: MFLOUR (3662)

MALAYAN FLOUR MILLS BHD

Observation from Chart:-

MFLOUR (3662) formed higher low.

 How about higher high?

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

Immediate resistance would be RM1.44 level.

Immediate support @ RM1.37 level.
Subsequent support @ MA20 / MA50 level.

Once higher high & higher low been confirm, it's an opportunity while retrace down retest support

Let's watch closely.

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