IJM- testing its downtrend line

IJM has broken above the strong horizontal resistance at RM5.25. It is now pressing against the downtrend line, RR at RM5.32-5.34. If it can break above the downtrend line, the outlook for IJM would turn positive.

Based on the above, we should track IJM closely and see whether this stock can achieve an update breakout. An alternative to buy IJM will be to buy its warrant, IJM-WC which has 578 days to expiry and an exercise price of RM4.00. Presently, this warrant is trading at a small discount of 1.7%.


Chart: IJM's weekly chart as at March 25, 2013_11.00am (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, IJM.