Maybank's uptrend may continue

Maybank has just broken above its short-term downtrend line at RM7.50. As at 10.00am, the stock was up 12 sen to RM7.60.


Chart: Maybank's daily chart as at April 30, 2010_10.00am (Source: Quickcharts)

A cheaper option is to try Maybank-CL, which expired in August 2010. Its main terms are exercise ratio of 8-to-1 and exercise price of RM6.84. At the present price of RM0.115, Maybank-CL is trading at a discount of 2%.

Based on the above technical breakout, Maybank could be a trading BUY.