Yesterday, PJDEV rose 5 sen to RM1.07 amid high trading volume. This follows the "Symmetrical Triangle" breakout earlier last week, which suggests that the share price could commence a rally towards RM1.17. The key indicators such as the MACD, Stochastic and RSI are also supportive of a move higher. Hence, traders who are keen on a short-term trade should target RM1.14 (3 bids below RM1.17 measurement objective), while a stop-loss should be placed at 98.5 sen (also 3 bids below RM1.00 support).

 

Source: Kenanga