Chart: PChem's 60-min chart as at May 25, 2011_9.15am (Source: Quickcharts)
Wednesday, May 25, 2011
PChem has a bullish breakout
PChem broke above its short-term downtrend line at RM7.00 as well as the horizontal resistance at RM7.05 yesterday. This morning, the stock rallied to a high of RM7.21. As you can see from the imtra-day chart below, the immediate resistance is at RM7.20. Based on the bullish breakout, PChem could be a good trading BUY, especially if it pullback to RM7.05-7.10.
Chart: PChem's 60-min chart as at May 25, 2011_9.15am (Source: Quickcharts)
Chart: PChem's 60-min chart as at May 25, 2011_9.15am (Source: Quickcharts)
The resistance of 7.2 very strong, seems like it's hard to break, what's the buy in price?
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