GENM’s technical picture looks attractive after its share price broke out above a threemonth triangle resistance yesterday as the market speculated on the possible release of positive financial results, expected in a few weeks. Chart-wise, GENM is positively biased as the bullish tone is staging to re-test previous high @RM4.50 (2-Aug-2013) supported by improving RSI and Stochastic. A breakout above the resistance level could position the share price for a new uptrend towards RM4.92, based on previous measurement objective. Hence, we suggest traders to watch out for this stock as the potential upside reward is attractive compared to downside risk @RM4.30.

 

Source: Kenanga