Technical Analysis Oct 2012: MYEG (0138)

MY E.G. SERVICES BERHAD

Observation from Chart:-

MYEG succeed break through descending triangle resistance level.

How high will it go?

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

Immediate resistance would be RM0.79 level.
If able break through RM0.79, higher high been confirm, probably it may retest RM0.86 level.
However, if retrace down, MA20 / MA50 would be immediate support.

Let’s watch closely

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