Scomi penetrated the DRL to flash a possible chart breakout ahead. The share price of Scomi broke out from the RM0.36 level last Apr and switched on an upward trend that brought the stock to a high of RM0.825 in Jun 2009. However, as it failed to sustain at above RM0.82, it began to trend lower, and constantly capped by the Downtrend Resistance Line (DRL). After reaching a low of RM0.36 in late Mar 2010, the stock reformed and penetrated the DRL successfully on Monday, with its second positive candle on the chart, indicating a possible chart breakout pattern ahead.
Scomi Group Berhad : Breaking Out From The Downtrend Resistance Line…-06/05/2010
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