Saturday, October 11, 2014

Technical Analysis Oct 2014: ZHULIAN (5131)

ZHULIAN CORPORATION BERHAD 

Observation from Chart:

ZHULIAN is forming descending triangle pattern.

Will it rebound from strong support, RM2.33 level?

Other indicator:-
MACD at negative region, downtrend sign.
Stochastic %K on BUY call position.

Immediate support @ RM2.33 level.
Subsequent support @ RM2.00 psychology level.

Immediate resistance @ descending triangle level.
Subsequent resistance @ RM2.49 level.

Let's watch closely technical rebound.

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