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Centurion, will it continue the uptrend?

Centurion was strong recently, it was making all time high for the past 2-3 month. From weekly chart we can see that the uptrend is still strong. After making a 2 year high in the end of July, the price pull back but it did not dropped a lot. Usually a false breakout often result in the collapse of a stock. However, it did not happen for centurion, it is a sign of strength. In June, even STI dropped severely, centurion just made shallow pull back. All these signal of strength indicates that it may go up much more. In the past a few days, it pull back to consolidate and we can see that the volume shrink, it indicates that the sellers are not strong. It is likely to resume the uptrend after consolidation. One may consider to buy on weakness during pull back. From fundamental perspective, centurion reported good earnings for the first quarter: revenue up 23% and net profit up 78%. Which support the conclusion from technical analysis. It need to take note that Centurion is estimated to release second quarter financial report on 13 August. It will be safer to consider enter after the release of the report to avoid short term uncertainty to this stock.

Weekly chart:

Daily chart: