Bursa Malaysia Stock Watch
Scomi poised to test its downtrend line
kltrader
Publish date: Mon, 05 Apr 2010, 10:07 PM
kltrader
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At the close, Scomi gained 2 sen to end the day at RM0.42 (on volume of 198,026 board lots). This means that Scomi will likely to test its downtrend line resistance at RM0.425-430 tomorrow. A break above the downtrend line may lead to a rally in the share price. The next resistance levels are at RM0.53 & then at RM0.74.
Chart 1: Scomi's daily chart as at Apr 2, 2010 (Source: Tradesignum)
Chart 2: Scomi's weekly chart as at Apr 2, 2010 (Source: Tradesignum)
Let's watch Scomi closely over the next few days & see whether it can achieve a bullish breakout. If an upside breakout occurred, Scomi can be a trading BUY.
Chart 1: Scomi's daily chart as at Apr 2, 2010 (Source: Tradesignum)
Chart 2: Scomi's weekly chart as at Apr 2, 2010 (Source: Tradesignum)
Let's watch Scomi closely over the next few days & see whether it can achieve a bullish breakout. If an upside breakout occurred, Scomi can be a trading BUY.
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