Canone & Kianjoo broke above their medium-term downtrend line

We can see below the charts of Canone and Kianjoo. In June 2012, Kianjoo had a breakout and a few days later, Canone had a breakout. Four days ago, Kianjoo had a breakout and yesterday Canone had a breakout. In the last breakout, Canone rose from RM2.30 to RM3.10 (RM0.80 or 35%). If Canone can achieve a similar gain, say 80 sen, Canone may be able to hit RM3.30.

Based on the above, Canone may be a trading BUY.


Chart 1: Canone's daily chart as at Jan 8, 2013 (Source: Quickcharts)


Chart 1: Canone's daily chart as at Jan 8, 2013 (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, Canone or Kianjoo.