Technical Breakout: Bermaz Auto Berhad (5248)
Bauto has been trading sideways between the support (S1: 1.85) and the resistance (R1: 2.43) for almost 4 years. It broke out above the R1 on 10 June 19 with a volume of 23mil. The stock now has a price target (PT) of 3 so long it continues to trade above R1.
10-week EMA is often used by traders for entry signal while 30-week EMA is for long term investors. Bauto's share price is currently trading above its 10-week EMA (2.36) and 30-week EMA (2.27).
BERA.KL #FBMKLCI #KLCI #BursaMalaysia
10-week EMA is often used by traders for entry signal while 30-week EMA is for long term investors. Bauto's share price is currently trading above its 10-week EMA (2.36) and 30-week EMA (2.27).
BERA.KL #FBMKLCI #KLCI #BursaMalaysia
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