Friday, October 19, 2012

TWS- a strong rebound

TWS's rebound continued today. The stock has gained 25% from its low of RM6.34 to the intra-day high of RM7.90 a few minutes ago.

TWS has just surpassed the strong horizontal resistance at RM7.80. It is now pressing against the intermediate downtrend line cum 100-day EMA line at RM7.90. While a breakout above the RM7.90 level would be a very positive technical sign, I think the stock has run up sufficiently to warrant some profit-taking for those who had bought into the stock earlier.


Chart: TWS's daily chart as at October 19, 2012 (Source: Quickcharts)
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1 comment:

  1. Melvin GFriday, October 19, 2012 5:09:00 PM

    Hi Alex,
    Comparing TWS and TDM, which 1 is more fully value ? Does that mean TDM with lower PE is better option to buy ?

    Appreciate!
    Melvin

    ReplyDelete