CPO- commencing on the next upleg?

CPO gained RM50 to RM3450 as at 11.00 am this morning. With this rise, CPO appeared to have broken to the upside of the triangle (ABC). This could signal to the start of its next upleg.


Chart 1: CPO's weeky chart as at May 18, 2011 (source: ifs.marketcenter.com)

Some stocks which have achieved a bullish breakout are TDM, SOP and TWSPlnt. See their daily charts below.


Chart 2: TDM's daily chart as at May 19, 2011_10.30am (Source: Quickcharts)



Chart 3: SOP's daily chart as at May 19, 2011_10.30am (Source: Quickcharts)



Chart 4: TWSPlnt's daily chart as at May 19, 2011_10.30am (Source: Quickcharts)

Given the volatility in the commodity markets of late, we must not be too aggressive in our trading.