Tuesday, October 28, 2014

Technical Analysis Oct 2014: SKPETRO (5218)

SapuraKencana Petroleum Berhad (5218) 

Observation from Chart:

SKPETRO (5218) retrace down from technical rebound.

Will it form double bottom @ RM3.15 level ?

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

High probably will retest RM3.15 support level.
Do need to watch out lower high & lower low for the another wave of downtrend.

Immediate support @ RM3.15 level.
Subsequent support @ RM3.00 level.

Immediate resistance @ RM3.60 level.
Subsequent resistance @ MA20 level.

Let's watch closely for opportunity.


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