Bursa Malaysia Stock Watch
MMCCorp may have a bullish breakout
kltrader
Publish date: Fri, 23 Jul 2010, 02:02 PM
kltrader
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MMCCorp has finally broken above its strong horizontal resistance at RM2.55 today. With this breakout, MMC may rally to test its next resistance at RM2.80 and thereafter at RM3.10.
Chart 1: MMCCorp's daily chart as at July 23, 2010_11.25am (Source: Quickcharts)
Chart 2: MMCCorp's weekly chart as at July 23, 2010_11.30am (Source: Quickcharts)
Based on the bullish breakout, MMCCorp could be a trading BUY. In view of the uncertainty in the overall market, you need to exercise your discretion on trading activity at the present moment.
Chart 1: MMCCorp's daily chart as at July 23, 2010_11.25am (Source: Quickcharts)
Chart 2: MMCCorp's weekly chart as at July 23, 2010_11.30am (Source: Quickcharts)
Based on the bullish breakout, MMCCorp could be a trading BUY. In view of the uncertainty in the overall market, you need to exercise your discretion on trading activity at the present moment.
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