CSCSTEL technically looking good

>> Wednesday, September 29, 2010

Another stock in my watch-list caught my eye today. CSCSTEL has been riding very firmly on support line since 8 Sept 10, which is attractive to accumulate.(it will be awesome if i grab some back then...lol)

The current price(RM1.76) has rise a bit, not far above support still has more upside to come. According to technical chart, looks like an ascending triangle is on his way. It's crucial to break above strong resistance(RM1.84), with high volume for ongoing price hike.

I think with the nearer to closing end of the triangle, break over is more likely then break under as the timing for 3Q financial result announcement, which should be ok.


With positive MACD(cross over and rising from below zero), i think we should ACCUMULATE with care, stop loss if price drop under support.

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