Mesdaq has a bullish breakout

In the recent strong market rally, the focus of the market was on Call Warrants and stocks in the property, construction, finance & plantation sectors. The players were not aware that the Mesdaq Board has been having a bullish rally as well.

From the chart below, we can see that Mesdaq has broken above the slanting resistance (aa) at the 126 level last week. Yesterday, it may have also broken above the potential long-term downtrend line (AA) at the 129 level. The next resistance for Mesdaq will be the overhead horizontal resistance of 143, 152 & 162.


Chart: Mesdaq's weekly chart as at Feb 12