ZLBT Chats

Wednesday, July 17, 2013

ZLBT Random Stock Pick >>> AZRB (7078)

Technical Comments: Due to overbought technical momentum, any further rally on AZRB towards RM1.10 (14/2/12 peak) or higher should encourage selling prior to profit-taking correction ahead, while retracement supports are at RM1.03 (76.4%FR) and 96sen (61.8%FR).
AZRB (7078)
Chart Analysis
As of 16 July 2013, AZRB has been on a strong uptrend as suggested by the upward sloping 20-Day and 50-Day Moving Averages. In addition, the price just broke the resistance of 1.08 reinforcing the bullishness in the recent price movement. This breakout was accompanied by a higher than average traded volume which shows the enthusiasm of the traders to push the price higher and past this resistance hence giving a higher probability of a successful breakout.


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