Chart wise : Tracing out of falling flag pattern ………
Scomi had on 20/4/2010 traded higher to a day high of RM0.50 before settled at RM0.485.
above: Scomi daily chart (click to enlarge)
Next Potential Upside Target : The upside violation of the falling flag pattern would likely see Scomi to trade upward with next upside target at RM0.55.
Entry Level : Risk taking traders may establish buying position at RM0.475.
Stop Loss Level : Once a buying position is being established, a stop loss level at RM0.45 level must be placed for risk capital protection purpose followed by trailing stop loss strategy.
source: Mercury Securities
