Wednesday, June 12, 2013

Astro- broke its uptrend line at RM3.00

The rollout of a new cable TV on June 9 by ABNxcess brought an end to Astro's recent rally. Today, astro broke its immediate uptrend line (SS) at RM3.00. With this breakdown, Astro is expected to slide further, possibly testing its longer term uptrend line (S1-S1) at RM2.75.

Based on the above, Astro is now rated a trading SELL.

Chart: Astro's daily chart as at June 12, 2013_12.30pm (Source: quickcharts)

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, Astro.

No comments: