Technical Analysis MWIDE

Stock: MWIDE
Company: Megawide Corporation
Support: 9.20 / 8.00
Resistance: 10.90


After the reversal of the rally, indicator stays on buy signs considering its not in overbought zones. If MWIDE were to retain a new leg of consolidation at such stages, it might eventually establish a golden cross (50-d MA > 200-d MA), that could contribute to a mid-term uptrend.

Nevertheless, MWIDE is expected to begin selling between the thin range of 9.20 to 10.90 in the near term.

Recommendation

For conservative traders, trade the range while for the aggressive ones buy as a breakout from the resistance is expected.

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