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Wednesday, October 21, 2015

Scable: Breaking to the upside

In August, I posted on Scable based on its improved financial performance, attractive valuation  & mildly positive technical outlook. At that time, the stock was testing its long-term uptrend line at RM1.20-1.22 (here).

Yesterday, it broke above its intermediate downtrend line at RM1.45-1.47. With this breakout, the stock could begin its next upleg. Thus, it could be a good trading BUY.

 
 Chart 1: SCABLE's weekly chart as at Oct 21, 2015_12.15pm (Source: ShareInvestor,com)

 
 Chart 2: SCABLE's monthly chart as at Oct 21, 2015_12.15pm (Source: ShareInvestor,com)

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, SCABLE.

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