BIG (7005)

BIG has been trading above its upward sloping 20-Day Moving Average which is a good sign. Today BIG has successfully made 2 resistance breakouts at 0.69 & 0.73; 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 breakout.

The resistance of 0.73 has now becomes its support with the next resistance at 0.79 & 0.85. It is interesting to note that BIG has closed today at 0.75 breaching its  52-week high.

I believe, more is in store for this counter.

Background
B.I.G. stands for Bintulu Industrial Gas. Established in 1982 in Miri, the oil town of Sarawak. We have been operating in East Malaysia for the past 21 years. Listed on KLSE Second Board in 1995. Largest supplier of industrial gases in Sarawak with 60% market share and a smaller share in Sabah.

(sourced:http://www.bigind.com.my/about_background.asp)

Website:
http://www.bigind.com.my/