Zelan Berhad is a Malaysia-based investment holding company. The Company, through its subsidiaries, is engaged in construction of power plants and buildings, property development, civil engineering and building turnkey contractor, piling and civil engineer contractor, civil technical design and construction of civil and building works and management of residential properties. The Company operates in four segments: engineering and construction; property and development; investment, and others. Its subsidiaries include Zelan Holdings (M) Sdn. Bhd., Zelan Corporation Sdn. Bhd., Sejara Bina Sdn. Bhd., Zelan Enterprise Sdn. Bhd. and Zelan Construction Sdn. Bhd. On June 23, 2010, the Company disposed its subsidiary European Profiles (M) Sdn. Berhad. In November 2011, the Company announced the liquidation of Golden Solitaire (Australia) B.V.
asriruslanZELAN has been trading above its upward sloping 20-Day Moving Average which is a good sign. In addition, the price just broke the resistance of 0.32 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 breako
asriruslanZELAN has been trading above its upward sloping 20-Day Moving Average which is a good sign. This has brought the price to the resistance of 0.305 where we expect a good fight between the bulls and the bears. For the upside to continue, the resistance needs to be broken conclusively, preferably with high volume. Based on the indicator analysis, the counter is primed for the upward movement as indicated by the RSI being in the oversold region.