The support and resistance level of SALCON are 0.585 and 0.62 respectively. It is observed that the MACD line of SALCON is above the centreline indicating some degree of strength in the price movement.
Luqman, I don't doubt your cause, but that blog is a bit disjointed and incomprehensible. I couldn't make a decision on that. I will await the result of the court case before making a final decision. I wish you luck.
SALCON has been trading above its upward sloping 20-Day Moving Average which is a good sign. The support and resistance level of SALCON are 0.585 and 0.61 respectively. The indicator analysis on RSI is not exhibiting any extreme condition. Watch out for the 30% and 70% levels which indicate any oversold and overbought condition respectively.
Both the buy back activity from company and shareholder will continue to outline the confidence of the director and major shareholder in the underlying project and upcoming prospect of the company in the future.
Salcon will also be looking to see a finalization in the asset disposal in China at the end of April 2016. The completion of the disposal see Salcon significantly lighter by RM 138 million of debts, while cash will increase to near RM 300 million.
It is bonescythe recommendation that Salcon move up today but 1 sen only. Maybe later or tomorrow will move higher after bonescythe article. Still cheap at 61
SALCON has been trading above its upward sloping 20-Day Moving Average which is a good sign. However the upward movement has encountered resistance at the level of 0.62. Traders should pay special attention to the price and volume behavior in order to determine whether this resistance level can be broken decisively for SALCON to resume its upward movement. The indicator analysis on RSI is not exhibiting any extreme condition. Watch out for the 30% and 70% levels which indicate any oversold and overbought condition respectively.
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....
jenabchen123
1,219 posts
Posted by jenabchen123 > 2016-03-16 23:29 | Report Abuse
Then up we go!