Update: Tebrau

Tebrau is still within the descending triangle (DT). So far attempts to break out of the DT have failed on 4 occassions, so unless there is really high volume & a real push, I feel that Tebrau will find it difficult to breakout. It is coming close to the edge of the triangle so something needs to happen soon. Daily MACD is negative & RSI is flat. Weekly MACD is still positive but RSI is also flat. So the pattern is increasingly turning negative.

Support is at 0.55 & strong support at 0.50. A break below 0.50 is very negative & in a DT such a breakdown is very bad. If that happens I can see Tebrau falling back to 0.45 first then 0.40 & the very strong support at 0.33.

Will the impending announcement this weekend by the PM on SJER be the catalyst needed to push Tebrau up for the next run? Its hard to be sure, but its best that traders keep their stop loss targets very tight just in case the DT breakdown happens.

(Sorry no chart today, Blogger is acting up. Yesterday chart still applies)