Thursday 21 June 2012

Daily Trading Stocks: Metronic Global Bhd

Metronic  may  rebound  after  the  firm  close  on  higher  volume yesterday.  A  purchase  can  be  made  on  a  close above yesterday’s high  of  RM0.14,  with  a  close  below  yesterday’s low of RM0.12 as stop-loss.  The  price  targets  are  the  Fibonacci  levels  of  the  recent decline  at  RM0.19  and  RM0.21.  Failure  to  close  higher  will  likely cancel  the  upward  bias,  after  which  the  stock  may  trade  lower. Supports can be seen at RM0.11 and RM0.85.


Source: OSK

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