Konsort also has a bullish breakout

Konsortium Logistik ("Konsort") was in a downtrend, which was only broken when the share price surpassed the RM0.49 level in w/e Jan 13, 2006 (see Chart 1 below).

Thereafter, the share price went sideway for about 3 months. Since May this year, the share price has been fairly volatile with strong resistance set at RM0.845 level. Its trading resembles an ascending triangle (see Chart 2 below) with a breakout at the RM0.845 level. This morning, the share price has broken above that level & hit a high of RM0.89, just before 10.30 a.m. At the time this post is written, the share price has eased back to RM0.85/0.855. If the share closed at RM0.845 (or, higher) today & can maintain above the RM0.845 level over the next day or two, I believe a bullish break of the ascending triangle has been achieved. The outlook for this stock would be positive.

















Chart 1: Konsort's weekly chart as August 11

















Chart 2: Konsort's daily chart as August 11