Friday, May 23, 2014

Technical Analysis May 2014: SKPETRO (5218)

SapuraKencana Petroleum Berhad (5218)

 Observation from Chart: 

SKPETRO (5218).break strong support level, MA200.

How low will it go?

Other indicator:- 
MACD trade at negative region, downtrend sign. 
Stochastic %K already reach oversold stage.

It might need consolidation before able rebound. 
Do need to watch out lower high & lower low for the another wave of downtrend.

Immediate support @ RM4.00 level.
Subsequent support @ RM3.85 level.

Immediate resistance @ MA200 level.
Subsequent resistance @ MA20 level.

Let's watch closely.


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