Cenbond may have a bullish breakout

Cenbond may have a bullish breakout: "Cenbond has a nice bullish breakout yesterday. Before this, it was consolidating in a triangle with the upside resistance at RM0.72.


Chart 1: Cenbond's daily chart as at Oct 15, 2009 (Source: Quickcharts)

The RM0.72 level happened to be a very strong horizontal resistance too. With yesterday's breakout, this will become a strong horizontal support.


Chart 2: Cenbond's weekly chart as at Oct 15, 2009 (Source: Quickcharts)

Today, Cenbond shed RM0.07 to close at RM0.76. Look out for this stock. I think it is a good trading BUY when it comes closer to RM0.72. Hat tip to reader Solomon for alerting me on this stock. I have posted on Cenbond a long time ago (go here).

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