Chart wise : Within channel plus …….
MK Land (stock code 8893) had on 25/6/2010 crossed over the immediate high of RM0.325 (22/6/2010) to a day high of RM0.335 before settled at RM0.32.
above: MKLand chart (click to enlarge)
Price Direction …..
In view of an increase in market participation, the stock could be expected to trade sideways with upside bias in coming day(s) with an overhead resistance pegged at RM0.335 and support at RM0.30.
What to watch for ….
A turnaround of prices to close above RM0.335 level would see an immediate short term reversing direction in the stock.
by Mercury Securities
