Two positive candles and a cross to above the 10-day and 40-day SMAs. AZRB fell into a downtrend after hitting RM1.05 for the second time in Oct 2009. It then trended lower to a support region near RM0.77 in May 2010. Only in Jul, it managed to launch a technical rebound to retest a resistance at RM0.98 in Aug, but the surge triggered an instant selldown to press the stock lower to RM0.795 in late Aug. However, since early Sep, the stock has chalked up two consecutive positive candles and surpassed both the 10-day and 40-day SMAs near RM0.82 and RM0.84 to close at RM0.84 last Friday.
Ahmad Zaki Resources Berhad : Poised To Trigger A Meaningful Technical Rebound… - 06/09/2010
No comments:
Post a Comment