Thursday, June 26, 2014

PWRoot: Breaking Out?


PWRoot is breaking to the upside of an ascending triangle at RM2.22 (see Chart 1). More importantly, it is on the verge of breaking above a much larger pennant (see Chart 2). As at 3.45pm, it is trading at RM2.25 on a relatively thin volume of 255000 units. For more on PWRoot, go here.


Chart 1: PWRoot's daily chart as at Jun 25, 2014 (Source: Tradesignum)


Chart 2: PWRoot's weekly chart as at Jun 25, 2014 (Source: Tradesignum)

Based on  mildly bullish technical outlook, PWRoot could be a trading BUY.

 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, PWRoot.
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4 comments:

  1. laiThursday, June 26, 2014 7:19:00 PM

    Hi Alex,

    May i have your view on Mmode please?

    Thanks

    ReplyDelete
  2. SharinginfozThursday, June 26, 2014 10:14:00 PM

    thanks for sharing. can you provide views on Lii Hen?

    ReplyDelete
  3. Alex LuThursday, July 03, 2014 11:52:00 AM

    Hi lai,

    MMODE must surpass its recent high of RM0.77 in order to go higher. Failure to do so could lead to a double-top reversal.

    ReplyDelete
  4. Alex LuThursday, July 03, 2014 11:54:00 AM

    Hi Sharinginfoz

    Lii Hen broke above the line connecting its peaks for the past 4 years. Its potential target is RM2.80-3.00.

    ReplyDelete