Chart wise : Buying volume expanded ……………
Glomac had on 30/12/2009 crossed over the immediate high of RM1.33 (13/11/2009) to a day high of RM1.37 before settled at RM1.36.
Next Potential Upside Target : With the upside violation of RM1.33 level, Glomac would thus be likely to trade upward with next upside target at RM1.43 – RM1.46.
Entry Level : Risk taking traders may establish buying position at RM1.34.
Stop Loss Level : Once a buying position is being established, a stop loss level at RM1.26 level must be placed for risk capital protection purpose followed by trailing stop loss strategy.
source : Mercury Securities
