Tuesday, August 5, 2014

Technical Analysis Aug 2014: ZELAN (2283)

Zelan Berhad 

Observation from Chart:

ZELAN retest RM0.36 resistance level.

Will it breakout?

Other indicator:-
MACD trade at positive region, uptrend sign.
Stochastic %K already overbought.

If able break through RM0.36 resistant, next resistant would be RM0.415 level.
Subsequent resistance, RM0.46 level.

If retrace down, MA20 is immediate support.
Subsequent support, RM0.27 level.

 Let's watch closely.

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