Bursa Malaysia Stock Watch
Mudajaya- flashing a possible high risk trading BUY
kltrader
Publish date: Mon, 09 Aug 2010, 05:27 PM
kltrader
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Mudajaya was heavily sold down over the past few days, due to allegation of improprieties in relation to its India power plant project. Go here.
Looking at the 30-min intraday chart, it looks like Mudajaya may have formed a bottom and is poised to stage a recovery. We can see the formation of a higher 'low' & a higher 'high'.
Based on this, Mudajaya could be a trading BUY. However, this is a high rick trade & you are strongly advised to set tight protective stop if you choose to venture into this stock.
Chart: Mudajaya's 30-min chart as at August 9, 2010_11.43 am (Cource: Quickcharts)
Looking at the 30-min intraday chart, it looks like Mudajaya may have formed a bottom and is poised to stage a recovery. We can see the formation of a higher 'low' & a higher 'high'.
Based on this, Mudajaya could be a trading BUY. However, this is a high rick trade & you are strongly advised to set tight protective stop if you choose to venture into this stock.
Chart: Mudajaya's 30-min chart as at August 9, 2010_11.43 am (Cource: Quickcharts)
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