Bursa Malaysia Stock Watch
TGOFFS may have a bullish breakout
kltrader
Publish date: Wed, 06 Jan 2010, 05:45 PM
kltrader
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TGOFFS may have a bullish breakout: "Tanjung Offshore Bhd ('TGOFFS') won a RM70 million contract from Petronas Carigali Sdn Bhd for the provision of wellhead maintenance services for Sabah, Sarawak and Peninsular Malaysia operations. This announcement has prompted a sharp jump of 13 sen in TGOFFS's share price to close at RM1.20 at the end of the morning session. With this, TGOFFS has broken above its medium-term downtrend line resistance at RM1.10 as well as its long-term downtrend line resistance at RM1.15. See the daily & weekly charts below.
TGOFFS's next resistance levels are at RM1.70 & RM2.00.
Chart 1: TGOFFS's daily chart as at Jan 6, 2010_12.20pm (Source: Quickcharts)
Chart 2: TGOFFS's weekly chart as at Jan 6, 2010_12.25pm (Source: Quickcharts)
Based on technical consideration, TGOFFS could be a good trading BUY.
"
TGOFFS's next resistance levels are at RM1.70 & RM2.00.
Chart 1: TGOFFS's daily chart as at Jan 6, 2010_12.20pm (Source: Quickcharts)
Chart 2: TGOFFS's weekly chart as at Jan 6, 2010_12.25pm (Source: Quickcharts)
Based on technical consideration, TGOFFS could be a good trading BUY.
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