Monday, June 16, 2014

TAGB: A bullish breakout beckons

TAGB has broken above its downtrend line at RM0.31-0.32. Today, it broke above the horizontal resistance at RM0.33. See Chart 1.

Chart 1: TAGB's weekly chart as at June 13, 2014 (Source: Tradesignum)

Its preference shares, TAGB-PA broke above its downtrend line today. See Chart 2.

Chart 2: TAGB-PA's weekly chart as at June 13, 2014 (Source: Tradesignum)

With these breakout, there is a good chance that TAGB may go into an upleg. Since, we are in the early days of a probable upside move, we should open account with only a small position in case the anticipated play does not pan out.

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, TAGB.

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