Gamuda broke above its strong horizontal resistance at RM4.00 yesterday. With this breakout, the stock is likely to continue its prior uptrend. Its next resistance is at RM4.50 & then the 2008 high of RM5.00.
Chart 1: Gamuda's weekly chart as at Mar 27, 2013_10.00am (Source: Quickcharts)
Gamuda-WD has broken above its horizontal resistance at RM1.20 & its long-term downtrend line at RM1.22. With these double breakout, the warrant's next resistance is at RM1.30 (which it has just surpassed this morning) and then its 2012 high at RM1.50-1.52.
Chart 2: GAmuda-WD's weekly chart as at Mar 27, 2013_10.00am (Source: Quickcharts)
Based on the above technical breakout, Gamuda and its warrant are both good trading BUY.
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, Gamuda & Gamuda-WD.
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