Apr 15, 2010

GTRONIC Waiting For A Breakout..

Gtronic stock code 7022 
Chart wise : Waiting for a breakout …….

above: click to enlarge

Gtronic remained in symmetrical triangle, it had on 14/4/2010 traded higher to a day high of RM1.57 before settled at RM1.55.
Price Direction ….. 

In view of  an increase  in market participation, the stock could be expected to trade sideways in coming day(s) with an overhead resistance pegged at RM1.60. 

What to watch for …. 
A turnaround of prices to close below RM1.48 level would likely see an immediate short term reversing direction in the stock.

source: Mercury Securities