MAS has broken above its downtrend line

MAS has just broken to the upside of its downtrend line today. As at 12.00 noon, MAS has gained 12 sen to reach RM4.12. The breakout level is RM4.00.

MAS' immediate support is at RM4.00 & thereafter at RM3.90. Its immediate resistance is at RM4.30 & thereafter at RM4.60.


Chart: MAS' daily chart as at April 30, 2008 (courtesy of Quickcharts)

For FYE31/12/2007, MAS reported a net profit of RM851 million on a turnover of RM15.3 billion. This compared favorably to the results of FYE31/12/2007, where it incurred a net loss of RM136 million on a turnover of RM13.5 billion.