Thursday, April 20, 2017

Technical Analysis Apr 2017: MRCB (1651)


MALAYSIAN RESOURCES CORP BHD 

Observation from Chart:

MRCB retrace down from overshoot uptrend resistance level.

Will it retest uptrend support level?

Other indicator:
MACD trade @ positive region, uptrend itinerary
Stochastic %K pending trigger BUY call.

Immediate resistance @ RM1.68 level.
Subsequent resistance @ RM1.77 level.

Immediate support @ RM1.54 level.
Subsequent support @ RM1.50 level.

High possibility will retrace down retest support level before next wave.

Let's watch closely.

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