Thursday, October 08, 2009

Dialog may have a bullish breakout

Dialog may have broken above its strong horizontal resistance at RM1.30, with good volume. As at 11.50am, it is trading at RM1.32 with volume traded at 77k board lots (equivalent to 7.7 million units). If Dialog can maintain this bullish breakout, then the stock may rally further & test the congested resistance area at RM1.55-65. Dialog broke above its medium-term downtrend line at RM1.25 last week.

Chart: Dialog's weekly chart as at Oct 8, 2009_11.45am (Source: Quickcharts)

Based on bullish technical breakout, Dialog may be good for a trading BUY.

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