Tuesday, April 06, 2010

Sunrise may have a bullish breakout

Sunrise has broken above its horizontal resistance at RM2.30. It is likely to continue with its prior uptrend. The immediate resistance is at RM2.60-65.


Chart: Sunrise's daily chart as at Apr 6, 2010_10.00am (Source: Quickcharts)

Based on the bullish breakout, Sunrise could be a good trading BUY.
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6 comments:

  1. AnonymousTuesday, April 06, 2010 10:35:00 AM

    morning alex. please comment on FARLIM. yesterday i read old news, found that MPHB hold 10% stakes in FARLIM. MPHB intend to venture into property market through FARLIM. can buy FARLIM now?

    ReplyDelete
  2. MaxWealth88Tuesday, April 06, 2010 11:20:00 AM

    hi alex,

    i'm curious to know how do u know what stocks having a breakout? Do you see the top gainers/volume or do you have a software that filter those stocks with breakouts?

    thanks
    maxwealth88

    ReplyDelete
  3. David NgTuesday, April 06, 2010 9:27:00 PM

    Hi Alex,

    Any reason why a trading buy and not a buy for medium term? Thanks.

    ReplyDelete
  4. Alex LuWednesday, April 07, 2010 8:13:00 AM

    Hi wong,

    There is no sign of a play developing in FARLIM. Wait for an upside breakout above RM0.35-36 for the start of a possible rally in the stock.

    ReplyDelete
  5. Alex LuWednesday, April 07, 2010 8:28:00 AM

    HI MaxWealth88,

    I do not have any software to track the market. I looked through the charts of many of the stocks in the market- stocks that have good volume or a big price movement (whether a drop or a rise). In the process, I know roughly their breakout level. I also read through all quarterly results announcement. This gives me an idea of the out-performing companies on our market. By doing these, I think I can spot 30% of the big movers in the market.

    ReplyDelete
  6. Alex LuWednesday, April 07, 2010 8:30:00 AM

    Hi David Ng,

    Sunrise can be both a trading buy and a buy for medium term investment. You may say this & Suncity are my favorite picks for the property sector.

    ReplyDelete