Rechallenging RM3.06 looks possible in the near term. The share price of Gamuda diverted from its uptrend in Aug 2009, after reaching a high of RM3.44, following a rally from a low of RM1.25 in Oct 2008. It fell below the RM3.06 – RM3.33 sideways range in Nov 2009, but hit a support near RM2.59 in Jan 2010. Thereafter, the stock was range-bounded within RM2.59 – RM3.06. On Friday, it closed at RM2.96 with its second positive candle in a row, suggesting a likelihood of a challenge to RM3.06 soon. Given an uptick on the 10-day SMA near RM2.84, a test to RM3.06 looks possible in the near term.
Mandarin Version - Gamuda Berhad : Expect Limited Upside Ahead… - 7/6/2010
No comments:
Post a Comment