Friday, July 10, 2015

Technical Analysis July 2015: UMWOG (5243)

UMW Oil & Gas Corporation Berhad (5243) 

Observation from Chart:-

UMWOG (5243) forming lower low & lower high.

How low will it go?

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

Immediate support @ RM1.50 psychology level.
Subsequent suport @ RM1.00 psychology level.

Immediate resistance @ MA20 level.
Subsequent resistance @ RM1.80 level.

Let's watch closely.

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