Golden Hope- a BUY now.

Golden Hope ("GHope") has broken above its strong horizontal resistance at RM4.54 yesterday (August 10). The next resistance will be RM5.30 while the psychological level of RM5.00 will also act as a resistance (see Chart 1 below).

















Chart 1: Ghope's weekly chart as at August 10

The monthly chart shows that GHope has actually broken above its long-term downtrend line in January 2004 at the RM3.60 level (see Chart 2 below). With the breaking of the strong horizontal resistance at RM4.54, the stock is likely to go higher.

















Chart 2: Ghope's monthly chart as at August 10