E&O closed with a positive candle at RM1.05 last Friday. After hitting a high of RM1.59 in Sep 2009, the share price of E&O kicked off a technical downtrend. The stock created a 7sen technical gap near RM1.40 before retreated all its way to the RM0.86 low level in Nov 2009. It launched a technical rebound and tested the resistance of RM1.20 in early Jan 2010, but was subsequently smashed with another downtrend to the RM0.92 support level. However, since Mar 2010, it has recovered smoothly and reached a hurdle at RM1.07 last Friday, before closing at RM1.05 with a positive candle on the chart. It indicates more upside push today.
Mandarin Version- Eastern & Oriental : Revisiting The Tough Resistance Of RM1.20 Soon…-12/04/2010
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