Tuesday, December 9, 2014

Technical Analysis Dec 2014: UMWOG (5243)

UMW Oil & Gas Corporation Berhad (5243) 

Observation from Chart:-

UMWOG (5243) consolidate side way?

Will it rebound @ this level?

Other indicator:-
MACD trade at negative region, downtrend sign.
Stochastic %K on oversold stage, pending trigger BUY call.

Immediate support @ RM2.30 level.
Subsequent suport @ RM2 level.

Immediate resistance @ RM2.60 level.
Subsequent resistance @ RM2.88 level, which is MA20.

Let's watch closely.

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