KEURO's run-up started in February when the share price bottomed out at 76.5 sen. During the past 5 months, the share price had broken out of the downwardsloping channel resistance which heralded the start of a major bullish trend reversal. In fact, KEURO had since been making higher highs and higher lows, which are tell-tale signs of a technically sustainable uptrend. Even at yesterday’s closing price of RM1.28, we believe that the share price has further distance yet. The MACD is still showing signs of “Bullish Convergence”, and this indicates that buying momentum remains intact. Next up, the next resistance to look out for is 

located at RM1.45, while buying support should be present at RM1.20.

 

Source: Kenanga