Granflo has broken above its horizontal resistance at RM0.45 yesterday. This morning, it broke above the horizontal resistance at RM0.50. With these double upside breakout, Granflo could be set up for a strong rally. Since the stock has risen quite substantially in a short period, it may be due for some consolidation. If it can stay above the RM0.50 mark, Granflo may rally again.
Chart 1: Granflo's weekly chart as at Feb 21, 2012 (Source: Tradesignum)
I have also appended below the chart for Granflo-WA, which has also risen nicely. This warrant has an exercise price of RM0.25 and expiring in April 2012. At RM0.27, it is trading at par.
Chart 2: Granflo-WA's weekly chart as at Feb 21, 2012 (Source: Tradesignum)