Proton staged a bullish breakout from RM3.80 - RM4.26 in early Mar 2010. Proton fell into a more than 5-month long consolidation phase between RM3.80 and RM4.26, after topping at RM4.60 high in late Sep 2009. But it turned bullish and charged towards a fresh year high at RM4.61 when it finally broke out from RM4.26 in early Mar 2010. Despite staging a technical pullback recently, it managed to stabilise at around the breakout point of RM4.26 in recent trading. Although Friday’s pullback from an intraday high of RM4.50 saw the stok falling bak to below the 10- day SMA, we still see a firm support at around RM4.26.
Mandarin Version - Proton Holdings Berhad : Accumulate Near RM4.26 Firm Support Level...-22/03/2010
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