Muhibah broke above its horizontal resistance at RM1.80 on July 5 (see Chart 1). Today it has broken above the psychological RM2.00 level. With these breakouts, Muhibah could rally all the way to the next string resistance at RM2.45.
Based on tehcnical consideration, Muhibah could be a trading BUY.
Chart 1: Muhibah's daily chart as at July 15, 2013_12.30pm (Source: Quickcharts)
Chart 2: Muhibah's weekly chart as at July 15, 2013_12.30pm (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, LPI.
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