Wednesday, December 28, 2011

MediaC- poised for a decent rally?

Mediac is testing its downtrend line today. Depending on how the intermediate downtrend line is drawn (either RR or R1-R1), the stock has either broken above the downtrend line at RM1.10 or it is testing that downtrend line at RM1.15. See Chart 1 below.


Chart 1: MediaC's daily chart as at Dec 28, 2011_4.00pm (source: Quickcharts)

From a different angle, we can see that MediaC has already broken above the intermediate downtrend line at RM1.05-1.08. If so, this could potentially lead to a significant rally for the stock. See the weekly chart, plotted on semi-log scale below.


Chart 2: MediaC's weekly chart as at Dec 19, 2011 (source: Tradesignum)

Based on the above technical analysis, I believe that MediaC is poised for a decent rally. If there is follow-through buying tomorrow, MediaC could be a good trading BUY.
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2 comments:

  1. cheerWednesday, December 28, 2011 6:59:00 PM

    Hi Alex,

    1. How you rate KNM? A good trading buy?

    2. How you see CPO stock from this piece of news @ http://www.marketwatch.com/story/the-oil-markets-and-iran-in-2012-2011-12-28 ?

    TQ

    ReplyDelete
  2. luckystock2Thursday, December 29, 2011 4:33:00 PM

    Hi Alex ,
    Besides mediac , what do you think about media? It seems like inching up also .
    Tx!

    ReplyDelete