Thursday, July 17, 2014

Technical Analysis July 2014: IGB (1597)

IGB CORPORATION BERHAD

Observation from Chart:-

IGB succeed breakout RM2.79 resistance level.

How high will it go?

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

If retrace down, RM2.79 would be immediate support.
Subsequent support @ MA20 / MA50 level.

Since it just breakout RM2.79, higher high been formed.
 Immediate resistance would be RM2.90 level.

Let's watch closely.

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