TNLOGIS’s recorded a fresh high yesterday after it  broke above the recent resistance to close 14 sen higher @RM4.59. In fact, TNLOGIS has formed a bullish “Marubozu” candlestick, which marks a resumption of the uptrend. Furthermore, key indicators such as Stochastic, RSI and CCI are  still depicting strong buying momentum thus far. Hence, we believe that the share price could eventually make its way up towards RM5.00 and RM5.28 (Fibonacci projection) within a 2-3 months timeframe. While the share price has already recorded a 133% YTD return, the long-term uptrend remains intact. Hence, traders reluctant to buy at current price may look to accumulate @RM4.40-RM4.50 support zone.

 

Source: Kenanga