Fajar has a bullish breakout, but...

Fajar broke above its downtrend line at RM1.00 yesterday. Today, it moved higher & broke above its horizontal resistance at RM1.06. The next resistance is the horizontal line at RM1.17.


Chart 1: Fajar's daily chart as at June 12, 2012_4.30pm (Source: Quickcharts)

Fajar-WA also did a bullish breakout yesterday. Strangely, this warrant, which has an exercise price of RM0.50, is now trading at a slight discount. This little give-away is a warning that something is not quite right with this stock. For those who has bought the stock earlier, you may want to take some profit despite the bullish technical outlook.


Chart 2: Fajar-WA's daily chart as at June 12, 2012_4.30pm (Source: Quickcharts)

For QE31/3/2012, Fajar reported a net loss of RM1.1 million on a revenu of RM132 million. For more, go here.