Wednesday, May 31, 2017

Technical Analysis May 2017: TONGHER (5010)



TONG HERR RESOURCES BHD (5010) 

Observation from Chart:-

1 March 2017, TONGHER (5010) gap up & never close the gap.
28 March 2017, 2nd gap up formed & never close back.

Will it rebound? Or break the uptrend line?

Other indicator:-
MACD trade at positive region, uptrend sign.
Stochastic %K on SELL call itinerary.

Immediate support @ RM3.65 level.
Subsequent support @ RM3.42 level.

Immediate resistance @ RM3.77 level.
If able breakout RM3.77 level, higher higher is confirm. Uptrend will resume.

Let's watch closely

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