Technically, it is not looking good for TDM as its 20-Day Moving Average is sloping downward and its price action is below the Moving Average line. The support and resistance level of TDM are 0.785 and 0.815 respectively. The indicator analysis on RSI is not exhibiting any extreme condition. Watch out for the 30% and 70% levels which indicate any oversold and overbought condition respectively.
An important development took place on 18 October 2013 where the price of TDM broke the resistance of 0.845. Ideally one would like to see an increase in traded volume to demonstrate the enthusiasm of the traders to push the price past this technical resistance level. However, there was a decrease in the traded volume in this breakout. Hence it is important to monitor the immediate price volume action to ascertain the validity of this breakout.
The support and resistance level of TDM are 0.81 and 0.86 respectively. It is observed that the MACD line of TDM is above the centreline indicating some degree of strength in the price movement.
An important development took place on 24 October 2013 where the price of TDM broke the resistance of 0.86. This breakout was accompanied by a higher than average traded volume which shows the enthusiasm of the traders to push the price higher and past this resistance hence giving a higher probability of a successful breakout.
TDM has been trading above its upward sloping 20-Day Moving Average which is a good sign. In addition, the price just broke the resistance of 0.87 reinforcing the bullishness in the recent price movement. This breakout was accompanied by a higher than average traded volume which shows the enthusiasm of the traders to push the price higher and past this resistance hence giving a higher probability of a successful breakout.
TDM has been trading above its upward sloping 20-Day Moving Average which is a good sign. In addition, there is a technical level at 0.86 which may support any short-term retracement.
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 297 views | 7 h ago
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New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ccc5197
458 posts
Posted by ccc5197 > 2013-10-10 21:59 | Report Abuse
bajet 2014 and umno election very near now,why still no movement?