SCOMI

I personally like to use moving avearge of 100days to set as yardstick for uptrend or downtrend. SCOMI is moving the direction to break the 100d MA line with 3 consecutive days of significant high volume set in. As long as it able to move above RM 0.445 level. I think it is worthwhile to accumulate.

Moving average just a many many photo put together to see the trend, it combines prices for several days to represent the hugh crowds direction of mass movement. When the crowd is more bullish than before, prices raise above the moving average whereas when the crowd is more bearish than before, prices fall below the moving average.

SCOMI News

1. CIMB Research: SCOMI a buy at 40cent - The Edge 5th Apr 2010 (MONDAY)

"Scomi is still gyrating in a descending wedge pattern. Although prices have been making lower lows formation over the past few months, it seems that the correction is probably at its tail end.

"A breakout above its 50-day SMA (at RM0.415) would likely indicate that a stronger rebound is underway," it said on Monday, April 5.
Traders with greater risk appetite may get in now in anticipation of a breakout run.
Scomi Group sells drilling mud and chemical products, provides drilling fluids materials, equipment, and services, manufactures and fabricates road transport equipment and material handling equipment, operates marketing agent for road transport equipment, and provides leasing on motor vehicles.