Maybank's uptrend continued

Maybank has just broken above its symmetrical triangle at RM6.80. It has also surpassed its August 5 high of RM6.86. As at 11.45 am this morning, it was trading at RM6.94. This is the third bullish breakout of a continuation pattern since the stock recovery begun in March this year. I have denoted this pattern as "C" and the earlier patterns as "A" and "B".


Chart: Maybank's daily chart as at Oct 13, 2009 (Source: Tradesignum)

Besides buying into Maybank, you can also consider the CWs. From the table below, you can choose from 4 CWs. My preference is for Maybank-CJ and Maybank-CK.


Table: Maybank's CWs terms & valuation