DAYANG’s technical picture looks positive as the share price is gaining traction and forming a bullish “Ascending Triangle” pattern. The share price seems set to re-test the crucial overhead resistance level @RM5.00 after it broke above the SMA bands (20-D, 50-D, and 100-D) recently. Hence, we suggest investor to keep an eye on DAYANG for the upside breakout point before buying. Beyond that, the share price may potentially go up to RM5.35 (recent high) and RM6.00 next. Meanwhile, the underlying support is pegged at RM4.64 (Fibonacci). 

 

Source: Kenanga