Sunday, August 16, 2009


Telekom Malaysia broke out of RM3.06 on Friday. The technical charts are showing positive signs of further strength.

Firstly, the ADX value is increasing and approaching the 30 level. +DI is above the –DI indicating development of strong up trend.

The Force index is also showing pockets of strength.

RSI is starting to tick up after testing the 50 level indicating that buyers are once again stepping in again.

MACD indicator is slightly above its signal line. Price momentum is likely to continue if the MACD indicator can stay above its signal line for the next few trading days.

All bets are off if price breaks below RM2.85 level.

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