Konsort- a possible trading BUY

Konsort broke above its medium-term downtrend line at RM1.20 yesterday. Its upleg continued today, where it has surpassed the horizontal resistance lines at RM1.30 & RM1.35.


Chart 1: Konsort's daily chart as at Mar 3, 2010_3.40pm (Source: Quickcharts)

It will soon be testing its long-term downtrend line resistance at RM1.38-40. If it can surpass this level, it could challenge its recent high at RM1.67.


Chart 2: Konsort's weekly chart as at Mar 3, 2010_3.40pm (Source: Quickcharts)

Based on the above, Konsort may be a good trading BUY at present level and especially above the RM1.40 level. For the more risk-averse crowd, you may try to gain entry on pullback towards RM1.35 or RM1.30.