TChong- time for some profit-taking

Looking at the weekly chart for TChong from 1993, we can draw a line connecting the cyclical high. This slightly rising line act as a resistance capping the rise of this stock. The market is still fairly excited about TChong's proposed development of its land in Segambut. I think that this piece of "news" been fully factored into the share price. As such, I believe that TChong has reached a level that some profit-taking may be a good idea.


Chart: TChong's weekly chart as at Dec 7, 2009 (Source: Tradesignum)