ASUPREM’s bullish trend continues to show more colours after the share price rose 2 sen to close at RM0.255 and broke above the four-month  resistance to an intraday high of RM0.265. In fact, the 20-day SMA has just completed a “Golden Crossover” above 100-day SMA line one day ago, hinting of further uplift. Likewise, all indicators are biased to the upside which is supported by active trading volume. Thus, for short-term trading, we believe the share  price could potentially hit RM0.300 (measurement objective). Meanwhile, immediate support can be found @RM0.235 for which should provide a near-term floor.

 

Source: Kenanga