PETRA PERDANA - Will she rebound on current Fibonacci retracement?

PETRA Stock code 7108
The issues and tussle within Petra already settled and it's price climbed back stated early April. Then it started to retrace and as at latest intraday today, it at  61% Fibonacci retracement.  It may worth to watch PETRA now. As at morning session close, the price action is nice (a sign it already rebounded) but the volume is on doubtful side for further rebound continuation . Wait for afternoon session or tomorrow for confirmation.

Read previous coverage on: PETRA

The last candlestick on PETRA chart below is  as at today's morning session close:
(click to enlarge):petra-perdana 
More data at http://biz.thestar.com.my/petra

PETRA Stock code 7108
The issues and tussle within Petra already settled and it's price climbed back stated early April. Then it started to retrace and as at latest intraday today, it at  61% Fibonacci retracement.  It may worth to watch PETRA now. As at morning session close, the price action is nice (a sign it already rebounded) but the volume is on doubtful side for further rebound continuation . Wait for afternoon session or tomorrow for confirmation.

Read previous coverage on: PETRA

The last candlestick on PETRA chart below is  as at today's morning session close:
(click to enlarge):petra-perdana 
More data at http://biz.thestar.com.my/petra

2 comments:

C$nM$ said...

headings to 2xheads & 2 bottoms formation.

Aree said...

As at today morning session close:

Likely there no straightaway upward resume. Anyway, it nice Petra has find it new minor based at current level. Which I say it bullish but just take a slightly longer than a straightaway resume. Watch current zone for collasped/weakness signal.