The market responded positively after the group recorded strong financial results recently on the back of stronger packaging business, according to media. Accordingly, the share price gapped up and broke out above previous high (@RM3.80) to close at RM3.82 (+4.7%) yesterday. In fact, while the buying volume is slowly building up, the share price seems likely to confirm the “Cup and Handle” upwards breakout soon should the share price sustain above RM3.63. Should that be the case, the resumption of previous uptrend could stage the share price towards RM4.18-RM4.20 (objective measurement).

 

Source: Kenanga