Earlier last week, SPB announced that its pre-tax profit for the first quarter ended 31 Jan 20123 rose to RM23.7m from RM5.1m a year earlier. However, it wasn't until yesterday that SPB surged after a dividend declaration was made (First and Final Div. of 2% less 25% Income Tax and Single Tier Div. of 8%). As a result, the share price rose 18 sen (RM3.83) to confirm the "Ascending Triangle" pattern. The breakout above the RM3.70 resistance level marks a continuation of the uptrend, and this comes in tandem with the key indicators (MACD, Stochastic and RSI) which have turned bullish. We reckon that the share price would likely continue its upwards momentum towards the measurement objective of RM4.10 though we expect some light resistance to emerge at the psychological RM4.00 level. Meanwhile, the RM3.70 resistance-turned-support should provide a floor for traders.