CCM is back to the limelight again after the privatisation talk way back in May-2013. This time, it is on the expectation of good results and dividends in the immediate quarter. Yesterday, CCM rose 7 sen or 6.6% to settle at RM1.13 on high trading volume. Technically speaking, we expect CCM to extend its upward trend after breaking above the 9-month trend channel at RM1.075. While the key momentum indicators and the 20-days SMA are hooking up, indicating that the short-term bias is towards the positive, we expect some resistance at RM1.13 (R1) and RM1.17 (R2) level. Any share price weakness towards its previous resistance-turned-support level of RM1.075 should be viewed as a good chance to accumulate. 

Source: Kenanga