Monday, June 12, 2017

Technical Analysis Jun 2017: MRCB (1651)



MALAYSIAN RESOURCES CORP BHD 

Observation from Chart:

MRCB forming descending triangle pattern

Will it retest RM1.78 resistance level?

Other indicator:
MACD trade @ negative region, downtrend itinerary
Stochastic %K on BUY call itinerary.

Immediate resistance @ RM1.52 level.
Subsequent resistance @ RM1.66 level.
If the rebound strong enough, potential will retest RM1.78 resistance level.

Immediate support @ RM1.35 level.
Subsequent support @ RM1.28 level.

Let's watch closely.

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