Harison to test its uptrend line

Malaysian Custom has issued Harison with a 14 days' notice to settle alleged unpaid duties and sales tax or face legal action. With this issue returning to the forefront, Harison will encounter selling pressure. Technically speaking, Hariosn is still in an uptrend line. If it breaks the uptrend line support at RM3.00, the next support levels will be at the horizontal lines at RM2.70, RM2.40 & RM2.10.


Chart: Harison's weekly chart as at September 20, 2012 (Source: Quckcharts)

Note:
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, Harison.