Both GAB & Carlsbg have broken above their strong horizontal resistance in the past few days. GAB broke its resistance at RM16.00 & could potentially hit a
target of RM17.00 (arrived at by adding the distance between the recent
low of RM15.00 & breakout level of RM16.00 to the breakout level).
Carlsbg broke its resistance at RM12.60 & could potentially hit a target of RM14.20 (arrived at by adding the distance between the recent low of RM11.00 & breakout level of RM12.60 to the breakout level).
Based on the bullish breakout, both stocks could be trading BUY.
Chart 1: GAB's daily chart as at Oct 30, 2012_3.00pm (Source: Quickcharts)
Chart 2: Carlsbg's daily chart as at Oct 30, 2012_3.00pm (Source: Quickcharts)
Note:
In
addition to the disclaimer in the preamble to my blog, I hereby confirm
that I do not have any relevant interest in, or any interest in
the acquisition or disposal of, GAB & Carlsbg.
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