0028 GMT [Dow Jones] Bullish daily charts suggest Ranhill (5030.KU) may extend recent gains and rise to test resistance at MYR1.04 (July peak) in coming days, Dow Jones technical analysis suggests. Two weeks ago, key resistance formed by 30-day and 100-day moving averages at 94 sen was convincingly breached. RSI hooked up recently while bullish crossover on MACD suggests base-building activities at current price levels. Traders may consider accumulating Ranhill above 94 sen support and ride on stock's upside potential. Psychological resistance at MYR1.00. Shares ended down 1.0% at 97 sen Friday.
Dow Jones Newswires
September 13, 2009 20:28 ET (00:28 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.
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