APM rose 8 sen to finish at RM6.09 on increased volume yesterday amid speculation that the company may benefit from various monetary incentives to boost the manufacturing capabilities of auto-parts makers. As a result of the bullish move, APM has broken out of a trend channel to mark an acceleration of its upwards move. With the key indicators also on bullish upticks, we reckon that APM is poised to take out the next resistance at RM6.14 (R1) before an eventual move towards RM6.57 (R2) next.

 

Source: Kenanga