Jun 12, 2012

Buy on Channel Breakout–Dialog

Dialog Group Bhd (stock code 7277)  Trading/Services –RM2.39

below: Dialog daily chart (click to enlarge)


Chart wise:
The ongoing development for an integrated downstream Oil & Gas complex in south Johor hascreated rotational play for oil and gas related counters. One of them, Dialog is recovering from alow of RM2.16 at its base in recent months to its current level.

However, the resistance framed by the ceiling of the channel at RM2.52 is yet to be challenged.Hence, Dialog is a trading buy if a breakout to above the RM2.52 resistance happened.

by Mercury Securities