Yesterday, AIRPORT climbed 34 sen to close at RM8.72 on high volume. As a result of the bullish move, the share price has surged beyond the RM8.72 resistance. The key momentum indicators have also hooked upwards to reflect a shift in momentum from bearish to bullish. From here, we reckon that the share price could potentially extend its gains towards RM9.56 (R1) and RM10.07 (R2) next. Meanwhile, any retreat in the share price should be limited to the RM8.72 (former resistance now turned support), and would represent an opportunity to buy in.

 

Source: Kenanga