TOPGLOV has been trading within the rectangle channel over the past two months. The share price ended on a bullish note at RM6.50 (+10 sen), having formed a “Three While Soldiers” candlestick pattern yesterday. This indicates a strong rebound from the channel support. Hence, we believe the stock may eventually breakout above the strong resistance @RM6.60 before moving up further to RM7.38 (measurement objective). Meanwhile, downside appears limited and strong support should be present at RM6.00.

 

Source: Kenanga