Bursa Malaysia Stock Watch
Muda may have a bullish breakout
kltrader
Publish date: Tue, 09 Mar 2010, 12:32 AM
kltrader
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Muda has just broken above its ascending triangle at RM0.905. The immediate resistance is RM0.93, which is the high recorded in June 2008. A breakout above RM0.93 may be the trigger for a trading BUY on this stock. However, it must be noted that the volume traded is still relatively thin at about 1.2 million shares. Muda's next horizontal resistance levels are RM1.00, RM1.20 & RM1.40.
Chart 1: Muda's weekly chart as at Mar 8, 2010_3.10pm (Source: Quickcharts)
Chart 2: Muda's monthly chart as at Mar 1, 2010 (Source: Quickcharts)
Chart 1: Muda's weekly chart as at Mar 8, 2010_3.10pm (Source: Quickcharts)
Chart 2: Muda's monthly chart as at Mar 1, 2010 (Source: Quickcharts)
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