Monday, July 07, 2014
Airport: Uptrend continuation beckons!
Airport, which broke above its intermediate downtrend line at RM7.80-7.85 in mid-June. Since then, it has been drifting higher on thin volume, Today, it is testing its strong horizontal resistance at RM8.20. Indicators are supportive of a potential upleg for the stock.
If Airport can break above the RM8.20 mark, the stock could be a good trading BUY. It may also be a good medium-term investment as it may revisit the December 2013 high of RM9.75.
Chart 1: Airports daily chart as at July 4 2014 (Source: Tradesignum)
Chart 2: Airports weekly chart as at July 4 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, Airport.