Friday, August 29, 2014

Technical Analysis Aug 2014: PADINI (7052)

PADINI HOLDINGS BHD 

Observation from Chart:-

PADINI retest RM1.87 support level.

Will it rebound ? Or break the support level?

Other indicator:-
MACD trade at negative region, downtrend stock.
Stochastic %K on SELL call.

Immediate support @ RM1.87 level. Once it break the strong support, it might be high selling pressure.

Immediate resistance @ RM1.92 level.
Subsequent resistance @ MA20 / MA50 level, which is RM1.95 level.

Let's watch closely.

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