GAMUDA break above with good volume

Technical Outlook
Following my post last week, GAMUDA share price has been steady, closing at high of RM3.95(1/7/2011). Therefore, its 1st resistance RM3.84 broke and now turn support. Next resistance RM3.98, then it should be challenging its long term high of RM4.28.

Friday's break out seems promising to me. It has been support with good volume, and positive MACD crossover from just above 0. MA(14d) also crossover MA(100d), which some people like to translate it as "Golden Crossover". The party may have just started!!

However, break above RM3.98 is crucial, else we might see "Head and Shoulder", which is not good.