Sunday, October 11, 2009

MacQuarie International Infrastructure Fund Technical Analysis

This post is on analysing Macquarie International Infrastructure Fund (MIIF) technically. For the recent fundamental analysis on this, please click here.

As we can see from the chart, MIIF bounced off the 200 day MA recently, and has hit and bounced down the 50 day MA. If it crosses this 50 MA, it will be very bullish, and likely go all the way to 40 cents, the blue resistance line.

However, %R is rather high and has made a turn. Furthermore, the 50 day MA looks like a formidable wall; it has been hit 3 times recently. There might likely be a correction down to 32~33 cents before going up again; i.e. ding dong back down to 200 day MA plus support line, then go up.

I might just load more around 32~33 cents to average down. Fundamentally good (at least to me) and looks good technically :)

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