Thursday, June 23, 2016

Technical Analysis June 2016: COMCORP (7195)


Observation from Chart:-

COMCORP (7195) used one day wipe out 28.9% share price.

Will it be technical rebound? Or going side way?

Other indicator:-
MACD trade at positive region, uptrend sign.(Unfortunately, it's have formed death cross)
Stochastic %K on SELL call itinerary.

Immediate resistance @ RM0.75 level.
Subsequent resistance @ RM0.80 level.

Immediate support @ RM0.65 level.
Subsequent support @ RM0.62 level.

Let's recall some similar pattern stock,

K1 (0111), 28 May 2015, one day wipe out 28%
Next trading day, wipe out another 32.2 % 

DSONIC (5216), 4 Apr 2014, one day wipe out 22.6%
Small rebound for next few days then ...

MPAY (0156), 29 Apr 2014, one day wipe out 15.3% (but intraday it do have big deep down & pull back)
Next few trading days do continue wipe out then just small technical rebound

Let's watch closely COMCORP.


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