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Monday, July 16, 2012

IJMLand may have a bullish breakout

IJMLand & its warrant had broken above their respective downtrend line. Like the previous 2 breakouts, this breakout is confirmed by MACD going into positive territory (or, about to do so in the case of the warrant), RSI crossing above its 30-week MA line; and the +DMI crossed above the -DMI, with ADX trending higher. All indications are that the stock & the warrant are likely to rise higher.

Based on these, IJMLand & warrant could be good trading BUY.  


Chart 1: IJMLand's weekly chart as at July 16, 2012_3.00pm (Source: quickcharts)


Chart 2: IJMLand-WA's weekly chart as at July 16, 2012_3.00pm (Source: quickcharts)

3 comments:

luckystock2 said...

Hi Alex ,
What's your opinion on Naim ?
Seem like it has just broken out from long time sideway.
Tx!

B said...

Thank you Alex. IJMLand have good prospect on Bandar Rimbayu (Canal City)

Alex Lu said...

Hi luckystock2

Naim is still caught in a triangle with support at RM1.70 & resistance at RM1.85. It tested its resistance today. If it can break above that, it may rise further but the long-term downtrend line is at RM2.70.

At this moment, I would regard Naim as a stock that is trying to find its bottom.