GOB has finally broken out above its multi-year resistance with a bullish “Marubozu” candlestick yesterday (+9 sen at RM0.775). In view of the bullish momentum on the MACD indicator, we reckon the stock is likely to extend its gains toward the RM0.86 “Bullish Flag” measurement objective and even the RM0.92 resistance further up.
Source: Kenanga