Presbhd tested the horizontal line at RM2.06 yesterday Today, it surpassed this resistance as well as climbing back on top of its uptrend line. This is a clear sign that the stock has regained the upward momentum.
Chart 1: Presbhd's daily cahrt as at July 3, 2014 (Source: Chartnexus)
The last time, Presbhd surpassed a strong horizontal resistance was in October 2013. Then it cleared the horizontal line at RM1.12 & rose to a high of RM2.06. If it can travel the same distance again, we can expect Presbhd to test the RM3.00 mark.
Chart 2: Presbhd's weekly cahrt as at July 3, 2014 (Source: Chartnexus)
Based on technical breakout, Presbhd could be a good 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, Presbhd.
Thanks Alex! You make my day.
ReplyDeleteKeep up your excellent work!