NAIM had been on a downtrend since its RM4.60 high earlier in May. However, the share price is now beginning to show signs of a trend reversal following yesterday's channel breakout. For the day, NAIM advanced 13 sen at RM3.78 and as a result of the bullish move, the key indicators have all hooked upwards into positive territory. This signals that follow-through buying momentum will likely continue in the weeks to come, and from here, we reckon that NAIM could potentially extend a rally to the aforementioned RM4.60 resistance and possibly RM5.50 further up.

 

Source: Kenanga