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.
If I follow the share that you mentioned, I will definitely loose money.
ReplyDeleteYou only comment on the shares that run up and by this time is often too late to buy.
Hi sky
ReplyDeleteA 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!