As the FIFA World Cup 2014 is around the corner, investors are betting that it may boost the earnings of CATCHA in the current financial year. From the technical perspective, the outlook is bullish as the share price has been trading on an uptrend channel over the past one year. Yesterday, the share price advanced a further 7 sen (+10.14%) to settle at RM0.76. A bullish “Marubozu” candlestick has taken shape on the daily chart, signalling that the bulls were firmly dominant throughout the day and we expect follow-through buying interest. Traders who look to buy into the stock could target to take profit at RM0.92, the trend channel resistance level while employing a stop-loss at RM0.65.

 

Source: Kenanga