Tuesday, February 21, 2012

Maxis's uptrend accelerating

I posted on Maxis when it broke above its horizontal resistance at RM5.40 in February 2011- a year ago (here). Since then, the stock has risen by a meager 40 sen to about RM5.80. Of course, Maxis has been paying out good dividend regularly, amounting to 32 sen over a year period!

Maxis shot up above RM6.00 this morning. From the chart below, we can see that Maxis has broken above its "trading range" at RM5.60 In January (in red). A stock that has broken out of a long trading range, tends to move for a prolonged period in the direction of the breakout. I have drawn a curving upward channel that fit into Maxis's trading. This morning, Maxis has broken above that channel (in green). This is an aggressive move for Maxis, which could signal an impending bullish development.

Chart: Maxis's weekly chart as at Feb 20, 2012 (Source: Tradesignum)

Based on technical consideration, Maxis could be a good trading BUY.


cheer said...

Hi Alex

How do you see this news http://www.marketwatch.com/story/europe-reportedly-agrees-terms-of-greek-bailout-2012-02-20 ?
Initial LTRO is EURO 1 trillion. How long this fund can assist Greece? Could it be another recession end of this year ?

Kindly share your though


ttbhoy said...

hello alex,

Just want to share your experience in dealing with capital market; would income fr cpo futures trading gain be taxable ? tq.

cherng said...

actually Maxis paid 40 cents dividend, not only 32 cents.