Wednesday, January 19, 2011

OSK Holdings Berhad - Weakness ahead

OKS Holdings Bhd made a double top formation and the share price has broken the support of RM1.97 which is the mid point of the “M” formation.  This usually mean that the stock price is on its way down.

The next support level is near RM1.70 which is the point at which the stock price rebounded from its previous uptrend channel line.

MACD line is way beneath its signal line indicating that the bears are in firmly in control. RSI has not reached oversold levels so expect the selling to continue today.

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