AFG closed last Friday at above the immediate resistance of the 40-day SMA. After trending in the downtrend in Nov 2009 to Feb 2010, the share price of AFG recovered on a steady uptrend to RM3.18 in Apr. Thereafter, the stock retreated on profit-taking pressure, and reached a low of RM2.63 in May. After weeks of struggle near the RM2.80 hurdle, it gained the upper hand last Friday, as it registered a huge bullish candle on the chart to end the week at RM2.90. It closed marginally above the 40-day SMA immediate resistance level at RM2.895.
Alliance Financial Group Bhd : A “Double Buy” Signal On The Momentum Indicators… - 21/6/2010
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