Kenanga Research & Investment
Highlights / Stock Picks of the Day - Vitrox Corporation Berhad (VITROX) – BUY
Yesterday, VITROX surged 7 sen (+8.1%) to close at RM0.93 on high trading volume. As a result of the bullish move, VITROX had confirmed a long-term "Rounding Bottom" pattern. This chart pattern works in a very similar manner to the "Inverted Head and Shoulders" pattern, which is also indicative of a major bullish trend reversal. Based on the measurement objective (depth of the
"Rounding Bottom" pattern), the technical chart suggests that VITROX could potentially extend its gains to RM1.18 over the coming months. We suggest that traders aim to take profit 3 bids below this level (RM1.15) with a stop-loss of RM0.85.
Source: Kenanga
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
