Wednesday, November 5, 2014

Technical Analysis Nov 2014: SKPETRO (5218)

SapuraKencana Petroleum Berhad (5218) 

Observation from Chart:

SKPETRO (5218) retest RM3.14 support level.

Will it rebound? Or break the support?

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

If lower low is confirm, it might form another wave of downtrend.

Immediate support @ RM3.00 level.
Subsequent support @ RM2.95 level.

Immediate resistance @ RM3.35 level.
Subsequent resistance @ RM3.50 level.

Let's watch closely for rebound opportunity.


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