Catcha- attempting to break above its downtrend line

It was reported in the Star newspaper that "Catcha Media Bhd is merging some of its assets with Says Sdn Bhd, the owner of Says.com, in a RM60mil deal to create one of the country’s largest digital advertising groups by reach, clients, spend and profitability. The units that will be combined with Says.com include its digital advertising business, with a reach of 9.78 million Malaysians a month, and its publishing arm, which has a portfolio of 15 magazine titles, the ACE Market firm said in a statement." For more, go here.

From the chart below, we can see that Catcha is trying to break above its intermediate downtrend line (RR) at RM0.48-0.50. An upside breakout of the RM0.50 mark will mean that the downtrend could be over and the stock can either move sideway or even go into an uptrend.

If Catcha can stay above the RM0.50 mark, it could be a stock to consider for a trading BUY.






Chart: Catcha's weekly chart as at May 15, 2013_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, Catcha.