Monday, January 06, 2014

Supermx- may have a bullish breakout

Supermx has been rising in an uptrend line, SS since July 2013. Its upside was capped by the horizontal resistance at RM2.85.This morning, it broke above the RM2.85 resistance. Its next resistance level will be the psychological RM3.00 level & then its 2010 high of RM3.30.

Based on techncial analysis, Supermx could be a good trading BUY.

Chart 1: Supermx's daily chart as at Jan 3, 2014 (Source: Tradesignum)

Chart 2: Supermx's weekly chart as at Jan 3, 2014 (Source: Tradesignum)

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, Supermx.

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