Chart 1: Malton's daily chart as at Nov 15, 2011_12.15pm (Source: Quickcharts)
Chart 2: Malton's monthly chart as at Nov 15, 2011_12.15pm (Source: Tradesignum)
Based on the above technical breakout, I think Malton could be a good trading BUY.
Tuesday, November 15, 2011
Malton may have a bullish breakout
Malton broke above its horizontal resistance at RM0.64-0.65 this morning (see Chart 1). This is also an upside breakout of a large flag formation (see Chart2). The stock could put in an upleg equivalent to the trading band of RM0.20, which means that it could hit a target of RM0.85.
Chart 1: Malton's daily chart as at Nov 15, 2011_12.15pm (Source: Quickcharts)
Chart 2: Malton's monthly chart as at Nov 15, 2011_12.15pm (Source: Tradesignum)
Based on the above technical breakout, I think Malton could be a good trading BUY.
Chart 1: Malton's daily chart as at Nov 15, 2011_12.15pm (Source: Quickcharts)
Chart 2: Malton's monthly chart as at Nov 15, 2011_12.15pm (Source: Tradesignum)
Based on the above technical breakout, I think Malton could be a good trading BUY.
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2 comments:
If I follow the share that you mentioned, I will definitely loose money.
You only comment on the shares that run up and by this time is often too late to buy.
Hi sky
A trading Buy for any security, triggered by a technical breakout, must by definition mean that the security has risen. Similarly, a trading Sell would only arise after a security has dropped. Before any movement in the price, one can never call a trading Buy or Sell.
If you are keen to buy a stock which has not moved up yet, try Tien Wah!
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