Kencana may have a bullish breakout

Kencana has just broken above its triangle at RM2.88-2.90 but the volume is still not substantial. This upside breakout could lead to the continuation of the prior uptrend. Kencana's existing uptrend line support is at RM2.75. Its immediate resistance would be the recent high at RM2.95. Based on technical breakout, Kencana could be a trading BUY.


Chart: Kencana' daily chart as at June 10, 2011_11.00am (Source: Quickcharts)