Advertisement

Monday, March 14, 2016

RSena: Upside Breakout

In December last year, I posted about Rsena (here). The stock hyphenated for a good 3 months at around RM0.39 until last Thursday. On that day, it broke above the RM0.40 resistance and went to an intraday high of RM0.42. Despite profit-taking on Friday, it managed to stay above the RM0.40 mark.


Chart 1: RSena's daily chart as at Mar 11, 2016 (Source: ShareInvestor.com)

Its warrant, RSena-WA also has an upside breakout of the horizontal line at RM0.10.


Chart 2: RSena-WA's daily chart as at Mar 11, 2016 (Source: ShareInvestor.com)

If RSena can stay above the RM0.40 level, it may continue to go higher next week. Thus RSena could be a trading BUY,

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, RSENA.

No comments: