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NewsImmediate resistance for Privasia at 30.5 sen, says JF Apex Securities
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Immediate resistance for Privasia at 30.5 sen, says JF Apex Securities
by Cals Tue 23 Jun 2015, 01:19
Immediate resistance for Privasia at 30.5 sen, says JF Apex Securities
KUALA LUMPUR (June 22): J F Apex Securities Research said Privasia Technology Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) has been on a downtrend since hitting a 9-year high of 43 sen two months ago.
In a note today, the research house said that last Friday, the stock climbed 3 sen to 27.5 sen to break the downtrend channel.
It said the selldown since April had been halted by the 61.8% Fibonacci retracement level at 22.5 sen.
“Technical indicators are positive with the MACD crossing above its signal line while the RSI rose above the oversold zone.
“Immediate resistance is seen at 30.5 sen marked by the 100-day moving average. Following Friday’s gain, traders can wait for a pull back before entering.
“For the downside, we advise traders to cut loss if the price falls below the immediate support of 22.5 sen. Second support is seen at 20 sen,” it said.
KUALA LUMPUR (June 22): J F Apex Securities Research said Privasia Technology Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) has been on a downtrend since hitting a 9-year high of 43 sen two months ago.
In a note today, the research house said that last Friday, the stock climbed 3 sen to 27.5 sen to break the downtrend channel.
It said the selldown since April had been halted by the 61.8% Fibonacci retracement level at 22.5 sen.
“Technical indicators are positive with the MACD crossing above its signal line while the RSI rose above the oversold zone.
“Immediate resistance is seen at 30.5 sen marked by the 100-day moving average. Following Friday’s gain, traders can wait for a pull back before entering.
“For the downside, we advise traders to cut loss if the price falls below the immediate support of 22.5 sen. Second support is seen at 20 sen,” it said.
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