jfapex
Technical Stock Pick - Cahya Mata Sarawak Bhd
Technical Stock Pick - Cahya Mata Sarawak Bhd
Closed: RM1.68
Resistance: (R1) RM1.77 /(R2) RM1.94
Support: (S1) RM1.49 /(S2) RM1.42
Cahya Mata Sarawak Bhd (2852) rose 25 sen to RM1.68 yesterday to break the 200-day moving average (orange line).
Technical indicators are encouraging with the MACD rising above its signal line and the RSI is in the overbought zone.
After yesterday’s surge, the stock could pull back on profit taking but has a chance to extend its rebound if share price sustains above its immediate support of RM1.49 marked the 200-day moving average (orange line).
For the downside, we advise traders to cut loss if the price falls below the second support of RM1.42, marked by the 100-day moving average (pink line).
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Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
