Sunday, October 26, 2014

Technical Analysis Oct 2014: FGV (5222)

FELDA GLOBAL VENTURES HLDG BHD 

Observation From Chart:

FGV rebound from RM3.00 psychology level.

How high will it go?

Other indicator:-
MACD trade @ negative region, downtrend sign.
Stochastic %K on BUY call itinerary.

Immediate resistance @ MA20 level.
Subsequent resistance @ MA50 level.

Immediate support @ RM3.00 level.

If able forming double bottom, FGV might be turn bullish.

Let's watch closely.

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