Yesterday, POS’s share price rose 20 sen to RM5.28. The technical picture has turned bullish as the share price had formed a bullish “Marubozu” candlestick, indicating long-term uptrend resumption. Despite the indicators suggesting further gains, we would not rule out the possibility of a near-term pullback given the impressive run up recently. As such, we suggest that traders should look to buy near the RM5.20 range. Should this entry price be triggered, traders should then look towards RM5.38 (measurement objective) and RM5.60 (all-time high) next as short term technical targets.

Source: Kenanga