Chart 1: MPI's weekly chart as at Jan 11
A similar development was also observed in Unisem. This stock has broken above its downtrend line at the RM1.65 level on November 10 last year (see Chart 2). Yesterday, it has also broken above its strong horizontal resistance at RM2.08 (also, its last 1 year's high) to close at its high of RM2.17. Today, it continues to go higher & at 4.00 p.m., it was trading at RM2.30.
Chart2: Unisem's weekly chart as at Jan 11
Chart2: Unisem's weekly chart as at Jan 11
Based on the latest breakout in MPI, I believe that the stock is a good BUY for the medium-term investment as well as for short-term trading.
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