Salcon: Next Upleg Has Begun?

Salcon broke above its downtrend line, RR at RM0.42-0.43 in October. Since then its upside has been capped at RM0.45. Today, it broke above that resistance at RM0.45. This could signal the start of its next upleg. Its next resistance is at RM0.50-0.52.

Based on technical consideration, Salcon could be a good trading BUY. However, you may want to wait for a minor pullback before making your entry. Good luck!


Chart: Salcon's daily chart as at Nov 6, 2017_2.35 (Source: Malaysiastock.biz)

Note:

I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.