A few stocks rallied to their downtrend lines. Let's take a look at 3 in particular.
1) BAT
I doubt it can break above the intermediate downtrend line at RM55.00. It may consolidate at RM52.00-53.00.
Chart 1: BAT's weekly chart as at July 13, 2016_11.00am (Source: Shareinvestor.com)
2. DIGI
DIGI managed to break above the intermediate downtrend line at RM4.80. It may test the RM5.00 and consolidate between RM4.80-5.00. If it managed to break above RM5.00, it may consolidate above the RM5.00.
Chart 2: DIGI's weekly chart as at July 13, 2016_11.00am (Source: Shareinvestor.com)
3. Genting
Genting broke above its downtrend line at RM8.10 on Monday. This morning, it broke above the horizontal line at RM8.20. It may have a chance to test its next resistance from the horizontal line at RM8.60.
Chart 3: Genting's weekly chart as at July 13, 2016_11.00am (Source: Shareinvestor.com)
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, BAT, DIGI & Genting.
http://nexttrade.blogspot.my/2016/07/bat-digi-genting-breakout.html
