Saturday, December 16, 2017

Technical Analysis Dec 2017: UMWOG (5243)



UMW Oil & Gas Corporation Berhad (5243) 

Observation from Chart:-

UMWOG (5243) forming symmetrical triangle pattern

Will it breakout resistance line & go higher?

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

Immediate support @ RM0.29 level.
Subsequent support @ RM0.28 level.

Immediate resistance @ RM0.31 level.
Subsequent resistance @ RM0.34 level.

Let's watch closely.

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