MAGNUM (3859) - Technical Analysis July 2016: MAGNUM (3859)




MAGNUM BERHAD 

Observation from Chart:-

MAGNUM formed double bottom @ RM2.19 level & retest MA200 resistance level (+11%).

Will it breakout & go higher?

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

Due to overbought, most likely it will retrace down or consolidate sideway.
Immediate support @ MA100 which is around RM2.37 level.
Subsequent support @ RM2.33 level.

Immediate resistance @ MA200 level
Subsequent resistance @ RM2.50 level.

Let's watch closely...

MAGNUM (3859) - Technical Analysis July 2016: MAGNUM (3859)
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MAGNUM (3859) - Technical Analysis July 2016: MAGNUM (3859) MAGNUM (3859) - Technical Analysis July 2016: MAGNUM (3859) Reviewed by admin on 7/16/2016 Rating: 5
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