Bursa Malaysia Stock Watch

Maybank may have a bullish breakout

kltrader
Publish date: Mon, 16 Aug 2010, 09:32 PM
kltrader
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Maybank finally broke above its horizontal resistance of RM7.77-78 this afternoon. This upside breakout may mirror the February/March 2010 breakout where Maybank rose about RM1.00, from below RM7.00 to RM7.70.


Chart: Maybank's daily chart as at August 16, 2010_2.45pm (Source: Quickcharts)

Based on this upside breakout, Maybank could be a good trading BUY.
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