Media

Media had on 15/7/2008 traded down to an intra-day low of RM1.79 in high volume before settledat RM1.79 on the same day.Where would be the immediate overhead resistance for Media ? The way Media carried itself wasseen not encouraging with selling pressure likely to press their luck today; however, resistanceselling can be expected at RM1.85. Watch out for an upside breakout at RM1.85 ! Assess youracceptable risk level before making the decision given the uncertainty in external environment.Technical wise :(1) MACD line cut up the Signal line on 9/7/2008 to give a “buy” signal.(2) +DMI crossed over -DMI on 11/7/2008 to indicate an “up” move.(3) %K line cut up the %D line to give a “buy” signal on 2/7/2008.