Sunday, October 22, 2017

Technical Analysis Oct 2017: OWG (5260)


ONLY WORLD GROUP HOLDINGS BERHAD (5260) 

Observation from Chart:-

OWG forming bolinger band squeeze.

Will it breakout RM1.19 resistance level?

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

Immediate resistance @ RM1.19 level.
Subsequent resistance @ RM1.36 level.

Immediate support @ RM1.14 level.
If break RM1.14, lower low is confirmed. Downtrend might resume.

Let's watch closely.

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