Bursa Malaysia Stock Watch
BJToto- poised for a bullish breakout?
kltrader
Publish date: Fri, 30 Apr 2010, 07:56 PM
kltrader
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BJToto has just broken above its horizontal resistance at RM4.50 as well as the downtrend line (which stretches back to May 2007) to record an intraday high of RM4.67. As at 9.45am, BJtoto eased back to the breakout level of the downtrend line at RM4.60. If BJToto can break above the downtrend line, we may see further upside to BJToto.
Chart: BJToto's weekly chart as at April 26, 2010 (Source: Tradesignum)
If BJToto can break above the downtrend line at RM4.60, BJToto could be a trading BUY.
Note: A cheaper option is to try BJToto-CF, which expired in Feb 2011. Its main terms are exercise ratio of 3-to-1 and exercise price of RM4.00. At the present price of RM0.20, BJToto-CF is trading at no premium.
Chart: BJToto's weekly chart as at April 26, 2010 (Source: Tradesignum)
If BJToto can break above the downtrend line at RM4.60, BJToto could be a trading BUY.
Note: A cheaper option is to try BJToto-CF, which expired in Feb 2011. Its main terms are exercise ratio of 3-to-1 and exercise price of RM4.00. At the present price of RM0.20, BJToto-CF is trading at no premium.
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