Proton has just surpassed the horizontal resistance & its recent high of RM4.60-62 (see Chart 1). This is also the medium-term downtrend line (see Chart 2). With this breakout, Proton may test its next resistance at RM5.00 & thereafter at RM6.00.
Chart 1: Proton's daily chart as at Mar 29, 2010_12.30pm (Source: Quickcharts)Chart 2: Proton's weekly chart as at Mar 29, 2010_12.30pm (Source: Quickcharts)Based on the technical reading, I believe Proton could be a good trading BUY.