MPHB has just broken above its strong horizontal resistance at RM2.00. In July last year, MPHB broke above its long-term downtrend line at RM1.90 & thereafter traded sideway for 8-9 months. The present breakout above RM2.00 could signal the start of a secular uptrend for MPHB. Its next resistance levels are RM2.25, RM2.70 & RM3.00.
Chart: MPHB's monthly chart as at Mar 1, 2010 (Source: Tradesignum)Based on the above technical breakout, MOHB could be a good trading BUY.