Yesterday, CMSB advanced 15 sen to settle at RM5.58. The share price is now retesting a crucial resistance level, where a successful breakout would confirm a “Bullish Pennant formation. This potentially signals a continuation of the uptrend, with an impressive RM2.96 upside (to RM8.20) against just 68 sen in downside risk (strong downside support at RM4.90). Hence, we reckon that traders should keep a keen eye on the stock, and watch for a breakout.
Source: Kenanga