Chart 1: Proton's daily chart as at Mar 29, 2010_12.30pm (Source: Quickcharts)
Chart 2: Proton's weekly chart as at Mar 29, 2010_12.30pm (Source: Quickcharts)
Based on the technical reading, I believe Proton could be a good trading BUY.
Monday, March 29, 2010
Proton may be a good trading BUY
Proton has just surpassed the horizontal resistance & its recent high of RM4.60-62 (see Chart 1). This is also the medium-term downtrend line (see Chart 2). With this breakout, Proton may test its next resistance at RM5.00 & thereafter at RM6.00.
Chart 1: Proton's daily chart as at Mar 29, 2010_12.30pm (Source: Quickcharts)
Chart 2: Proton's weekly chart as at Mar 29, 2010_12.30pm (Source: Quickcharts)
Based on the technical reading, I believe Proton could be a good trading BUY.
Chart 1: Proton's daily chart as at Mar 29, 2010_12.30pm (Source: Quickcharts)
Chart 2: Proton's weekly chart as at Mar 29, 2010_12.30pm (Source: Quickcharts)
Based on the technical reading, I believe Proton could be a good trading BUY.
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4 comments:
Hi Alex,
I think TCHONG has hit new high.
Hi Peter,
TChong has surpassed its January High of RM3.61. We may see further upside from here.
wimax stocks come! bro, will wimax stocks up further tomorrow? gpacket,redtone and ytle which one is ur top pick?
Hi Wong,
YTL-e may have a bullish breakout at RM0.80-81. The other two stocks, Redtone & Gpacket are work-in-progress. I would avoid these stocks as the wireless broadband is an extremely competitive sector to be in. They have to fight, not only among themselves but also against TM's Uni-fi & other mobile telecommunication operators, such as Maxis, Digi & Celcom. If there is only one survivor, my bet is on Gpacket. However, even Gpacket is burning cash faster than it can replenish.
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