Recovery of CPO prices and the expectations of good results in the coming immediate quarter sparked buying interest in TSH Resources. We foresee that the share is poised to enter another bullish run after it rebounded from the trend channel support of RM2.75. Indicators-wise, MACD has just crossed over the Signal line, hence, we believe that the stock is likely to extend its upward movement for the next few days. We expect the share price to retest its previous all-time high level @ RM3.13 within one month. On the flipside, should the share price move in the opposite direction, strong support is expected at RM2.78 (S1) where bargain hunting could emerge.

 

Source: Kenanga