Sunday, February 9, 2014

Technical Analysis Feb 2014: BARAKAH (7251)

BARAKAH OFFSHORE PETROLEUM BHD (7251)

Observation from Chart:- 

BARAKAH (7251)  succeed breakout ascending triangle resistance.
How high will it go?

Other indicator:-
MACD trade at positive region, uptrend sign.
Stochastic %K on BUY call itinerary.

It's new high record, no resistance.
If there is good news, potential boost the bullish sentiment to another high record.

If retrace down,
Immediate support @ RM1.78 level.
Subsequent support @ MA20, which is around RM1.73 level.

Let's watch closely

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