GAB & Carlsbg broke above their recent high

Both GAB & Carlsbg have broken above their strong horizontal resistance in the past few days. GAB broke its resistance at RM16.00 & could potentially hit a target of RM17.00 (arrived at by adding the distance between the recent low of RM15.00 & breakout level of RM16.00 to the breakout level).

Carlsbg broke its resistance at RM12.60 & could potentially hit a target of RM14.20 (arrived at by adding the distance between the recent low of RM11.00 & breakout level of RM12.60 to the breakout level).

Based on the bullish breakout, both stocks could be trading BUY.


Chart 1: GAB's daily chart as at Oct 30, 2012_3.00pm (Source: Quickcharts)


Chart 2: Carlsbg's daily chart as at Oct 30, 2012_3.00pm (Source: Quickcharts)

Note: 
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, GAB & Carlsbg.