Maxis- rides again!

The appointment of Morten Lundal - the former Digi.com's CEO - as the new CEO of Maxis has finally out to rest some concern in the market about the direction and operation of Maxis. The stock got a good lift and broke above the horizontal resistance at RM6.90 as well as the psychological RM7.00 level. With this double breakout, Maxis is set to continue with its prior uptrend. The short-term target for this move is RM7.40.

Based on technical consideration only, Maxis could be a good trading BUY.


Chart 1: Maxis's daily chart as at July 18, 2013 (Source: Quickcharts)


Chart 2: Maxis's weekly chart as at July 18, 2013 (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, Maxis.