GAMUDA (5398) : GAMUDA BHD Gamuda has a bullish breakout

Gamuda has a bullish breakout

GAMUDA (5398) : GAMUDA BHD

Today, Gamuda announced that it has received a letter from MRT Corp appointing the MMC-Gamuda JV as project development partner (PDP) to build the Mass Rapid Transit Line 2 from Sungai Buloh to Serdang and Putrajaya.

The stock and its warrant broke above its recent high. From past price movement, I believe that Gamuda is likely to continue to rise towards RM6.00 and its warrant is likely to head towards RM3.00.

Based on bullish breakout, Gamuda and Gamuda-WD are good trading BUY. Nevertheless, you are advised to trade cautiously as the market is still unsettled and may see volatility in the near term.


Chart 1: Gamuda's weekly chart as at Oct 29, 2014 (Source: Tradesignum)


Chart 2: Gamuda-WD's weekly chart as at Oct 29, 2014 (Source: Tradesignum)

Note:
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, Gamuda & Gamuda-WD.

nexttrade 
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