Over the past month, XINQUAN's share price had rallied as much as 25% from 72 sen to yesterday's closing price of 90 sen. The stock is showing early signs of a bullish reversal, with the downward-sloping trend-line taken out earlier last month. The 20-, 50- and 100-day SMAs have also completed a "Golden Crossover" recently, while the share price is seen making higher highs amid a pick-up in trading volume. The key indicators are mostly supportive of a move higher, and we reckon that the share price could potentially make its way towards RM1.00 next. Meanwhile, downside support should exist just 2 sen down at 88 sen.

Source: Kenanga