A string of contract wins have kept investors upbeat on PERISAI’s prospects over the past few months which resulted in its share price rallying close by 40% since its August 2013 low of RM1.22. Yesterday, PERISAI rose 11 sen to close at RM1.70. Not only had PERISAI formed a “Morning Doji Star” candlestick, it has also confirmed a classic “Cup & Handle” chart pattern on the daily chart. Based on the “Cup & Handle” pattern, we reckon that PERISAI could potentially rally towards RM2.13 next. At the same time, key indicators such as the MACD, Stochastic and RSI indicators have also turned bullish. Hence, we expect follow-through momentum to continue ahead of the holiday-shortened week.

 

Source: Kenanga