Chart: Tanjong's daily chart as at Sept 25, 2009_3.38pm (Source: Quickcharts)
Notwithstanding the above, I believe Tanjong is not likely to go below the RM14.50-60 level. At that level, Tanjong will be a good trading & long-term BUY.
Friday, September 25, 2009
Tanjong coming to its medium-term uptrend line
Tanjong is undergoing some correction after its failed attempt to challenge its recent high of RM16.00. Currently it is resting on its immediate uptrend line (S1S1) support at RM15.00. If this support failed, Tanjong might test its medium-term uptrend line (SS) support at RM14.50. It could also enjoy support from the horizontal line at RM14.60. However, a breakdown below RM14.50-60 could be very bearish for Tanjong.
Chart: Tanjong's daily chart as at Sept 25, 2009_3.38pm (Source: Quickcharts)
Notwithstanding the above, I believe Tanjong is not likely to go below the RM14.50-60 level. At that level, Tanjong will be a good trading & long-term BUY.
Chart: Tanjong's daily chart as at Sept 25, 2009_3.38pm (Source: Quickcharts)
Notwithstanding the above, I believe Tanjong is not likely to go below the RM14.50-60 level. At that level, Tanjong will be a good trading & long-term BUY.
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