Tuesday, November 13, 2018
QL: A Good Trading BUY
Last week, QL broke above its "horizontal resistance" at RM7.12-7.13 and rallied to a high of RM7.50. Last 2 days, the share price dropped back. Today it went below the horizontal resistance-turned-support of RM7.12-7.13. It went as low as RM7.07 before recovering. As at 10.40am, QL was trading at RM7.25.
From the chart below, you can see that QL has done a breakout/pullabck and then continued to go higher. The current "dance" is likely to be the same. Thus, QL could be a trading BUY now. A note of caution; do exercise careful discretion in all trading given the present weakness in the market.
Chart: QL's daily chart as at Nov 13, 2018_10.15am (Source: Malaysiastock.biz)