MHB may have a bullish breakout

by **hlk** Wed 06 Apr 2011, 20:02

MHB
may have a bullish breakout above its rising wedge at RM7.00-7.05 today. While
this breakout could be a good trading BUY, I would suggest a cautious approach.
I am not entirely convinced of the breakout as it happened on relatively thin
volume & came rather late in the afternoon (at precisely 4.15pm). Sudden
sharp rise among GLC stocks in the late afternoon tends to be instituted by
local funds for the purpose of supporting market indices. Watch the stock
closely tomorrow for signs that this is not a flash in the pan. If the price is
still firm for the first 2 hours tomorrow & the volume is significantly
higher, this trading BUY has a good chance of success.

As always, you can look through the table of CWs below & ride this trade
via a cheaper instrument. My preference is for MHB-CB & MHB-CC

by **hlk** Wed 06 Apr 2011, 20:10

[You must be registered and logged in to see this image.]oh-uh...don knw hw 2 paste cw table n quickchart here... [You must be registered and logged in to see this image.]

MHB may have a bullish breakout

MHB may have a bullish breakout

Re: MHB may have a bullish breakout