Sunday, June 26, 2016

Technical Analysis June 2016: CAREPLS (0163)


Observation from Chart:-

CAREPLS forming lower high & lower low.

Will it be technical rebound @ RM0.32 support level ? 

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

Immediate support @ RM0.32 level.
Subsequent suport @ RM0.305 level.

Immediate resistance @ RM0.33 level.
Subsequent resistance @ RM0.365 level.

From technical view, CAREPLS is forming lower low & lower high, market sentiment is bearish. NO bullish reversal been form yet.

From fundamental view, CAREPLS is export counter, will be beneficial on USD appreciation.

Let's watch closely.


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