Friday, October 16, 2009

Freight may have a bullish breakout

Freight Management Holdings Bhd ("Freight") has broken to the upside of its ascending triangle yesterday- made a high of RM0.715 before closing at the breakout level of RM0.675. Today it gained RM0.125 to close at RM0.80- thus achieving a clear bullish breakout. Its next resistance levels are RM0.85, RM0.90 & RM0.95.

Chart: Freight's daily chart as at Oct 15, 2009 (Source: Tradesignum)

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