Saturday, September 19, 2015

Technical Analysis Sept 2015: MRCB (1651)

MALAYSIAN RESOURCES CORP BHD 

Observation from Chart:

MRCB succeed breakout downtrend resistance

How high will it go?

Other indicator:
MACD moving toward positive region, uptrend itinerary
Stochastic %K overbought stage.

Immediate resistance @ RM1.15 level.
Subsequent resistance @ RM1.19 level.

Immediate support @ RM1.07 level.
Subsequent support @ RM1.06 level.

High possibility will retrace down retest support level.
Let's watch closely.

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