Wednesday, April 16, 2008

Abu Dhabi group may buy into MBSB

Yesterday, I have posted on MBSB's bullish breakout (go here). Now, it seems that a Abu Dhabi group is in discussion to buy a stake in MBSB. This was reported in the Star today (go here).

While this may sound like a good news, I believe that traders would probably take profit rather than wait for the outcome of the discussion. You may want to do the same. From the chart, you can see that the immediate resistance is about RM1.40 & thereafter RM1.50.

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