FY09P/E: 30.7x, P/BV: 1.0x
• Dreamgate surpassed its resistance channel yesterday after a 3-month sideways consolidation trend. The strong volume on this breakout shows that buying momentum is improving. If it can holds above yesterday’s low of RM0.205, expect this run-up to last a tad longer.
• Technical landscape has improved. MACD has staged a positive crossover while its RSI has also swing towards the upper band of the neutral zone.
• Investors may start to accumulate near the RM0.205 support zone but always keeps stop tight at below RM0.20. Expect it to test the RM0.23 and RM0.26 resistance levels soon. Note that the 30-day SMA has also cut above its 50-day SMA, which is another bullish sign.
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