After consolidating for 3 months since early January 2010, Tanjong has resumed its prior uptrend as it had broken out of a bullish continuation chart pattern called “ascending triangle”. Tanjong continues to trade above its 20 and 50-day moving averages and the MACD trend indicator remains above its centerline that confirms the presence of a bullish trend. Another interesting observation to note is the formation of a bullish Japanese candlestick pattern called “Dragonfly Doji” close to the previous resistance now turned support at RM18.06. In addition, the RSI oscillator has started to inch upwards above the 50-level which suggests the upside momentum has resurfaced. Given such positive elements, Tanjong may see further upside potential in the coming weeks. A break above the immediate resistance at RM19.12 may see a further rally towards the historical high of RM19.55. However, a violation below the immediate support at RM18.06 may damage the bullish tone to see a slide towards the next support at RM17.62.