Benalec broke above its ascending triangle formation ('ABC') at RM0.95 last week. This morning, it convincingly broke above the psychological RM1.00 mark. With these double bullish breakouts, I believe Benalec is on a recovery mode which could send the stock to RM1.20 or possibly RM1.40.
Based on technical breakout, Benalec could be a good trading BUY.
Chart: Benalec's weekly chart as at May 12, 2014 (Source: Tradesignum)
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, Benalec.
No comments:
Post a Comment