Road Builder is likely to test its medium-term uptrend at RM2.20

Road Builder's share price, like Gamuda's, has also dropped a bit today. From Chart 1 below, we can see that the stock has broken above its long-term downtrend line at the RM2.30/33 level in w/e Sep 1. It is also in medium-term uptrend, with support at the RM2.20 level (see Chart 2 below). Today, the stock dropped to a low of RM2.24 before closing at RM2.30 at the end of the day. If the stock can hold above the RM2.20 level, it would be a good long-term BUY.

















Chart 1: Road Builder's weekly chart as at Sep 9



















Chart 2: Road Builder's daily chart as at Sep 9