Friday, May 26, 2017

Technical Analysis May 2017: BARAKAH (7251)



BARAKAH OFFSHORE PETROLEUM BHD (7251) 

Observation from Chart:-

BARAKAH (7251) forming descending triangle pattern.

Will it breakout resistance?

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

Immediate support @ RM0.62 level.
Subsequent support @ RM0.605 level.

Immediate resistance @ RM0.645 level.
Subsequent resistance @ RM0.67 level.

Let's watch closely

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