Thursday, September 14, 2017

Technical Analysis Sept 2017: MASTEEL (5098)


MALAYSIA STEEL WORKS (KL) BHD 

Observation from Chart:-

MASTEEL forming shooting star.

Will it retrace down?

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

Due to overbought, high possibility will be consolidate sideway or retest support level.
Immediate support @ RM1.42 level.
Subsequent support @ RM1.28 level.

It's higher high, no immediate resistance

Let's watch closely...

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