Saturday, April 15, 2017

Technical Analysis Apr 2017: MAGNUM (3859)


MAGNUM BERHAD 

Observation from Chart:-

MAGNUM forming descending triangle pattern.

Will it breakout the resistance?

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

Immediate support @ RM2.08 level.
Subsequent support @ RM2.04 level.

Immediate resistance @ RM2.15 level
Subsequent resistance @ RM2.21 level.

Let's watch closely...

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