Tuesday, June 24, 2014

Technical Analysis June 2014: BJTOTO (1562)

BERJAYA SPORTS TOTO BERHAD 

Observation from Chart:-

BJTOTO succeed breakout MA50 resistance level.

Will it breakout RM3.90 resistance?

Other indicator:-
MACD trade @ negative region, downtrend sign.
Stochastic %K still on BUY call itinerary.
Parabolic Stop & Reversal trigger BUY call.

If retrace down, immediate support @ MA50 level.
Subsequent support @ MA20 level.
Strong support @ RM3.80 level.

If succeed breakout RM3.93, higher high is confirm.
Double bottom @ RM3.80 is solid.

Let's watch closely

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