Proton may have a bullish breakout

Proton has been drifting lower in a downtrend where the breakout level is at RM4.30. This afternoon, it has broken above this level on a volume of 23k lots as at 4.40 pm. While this volume is higher than the previous trading days, I would like to see a much higher volume (say, 50k or more) to confirm this short-term downtrend breakout. I see resistance at RM4.60 & if there is sufficient strength, an attempt to close the gap at RM4.92.


Chart: Proton's daily chart as at February 4, 2008 (courtesy of Quickcharts)