IGB has a bullish breakout

IGB finally broke out of its trading band of RM1.60 to RM1.80 yesterday. While the breakout was due to a last minute push & on thin volume, the breakout is still valid provided it does not go below RM1.80 again. The next resistance will be the horizontal line of RM2.00 & RM2.50.


Chart 1: IGB's daily chart as at August 4, 2009 (Source: Quickchart)


Chart 2: IGB's weekly chart as at August 4, 2009 (Source: Quickchart)