Earlier in the year, TEBRAU rallied 136% from just 75 sen to RM1.77 (June) before correcting to a low of RM1.14 (Aug). Even with the wild swings, the overall uptrend remains intact and the share price is now just beginning to show signs of a rebound from the trend line. In fact, the share price was up by 5 sen at RM1.36 yesterday, which was sufficient to cause all 3 key oscillators to hook upwards (This signals a shift in momentum from bearish to bullish). At the same time, the share price has intersected the 50- and 100-day SMA to offer yet another buy signal. Should follow-through buying continue, TEBRAU could potentially extend its gains towards RM1.49 (R1), and possibly even stage a retest of the RM1.77 (R2) high.

 

Source: Kenanga