Monday, December 16, 2013

Technical Analysis Dec 2013: SKPETRO (5218)

SapuraKencana Petroleum Berhad (5218)

 Observation from Chart:

SKPETRO forming another new higher high.

Will it breakout RM5.00 psychology level ?

Other indicator:-
MACD trade at positive region, uptrend sign.
Stochastic %K already reach overbought stage.

It might need consolidation before able go up future.
Do need to watch out higher high & higher low for the continue uptrend.

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

Let's watch closely.


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