Sentiment towards BDB has been upbeat following a few changes in the company’s key management. The share price crept up in the last few days and finally surpassed the RM1.85 multi-month resistance level yesterday. With the bullish breakout, we noticed that an “Ascending Triangle” pattern has been confirmed on the daily chart to signal an extension of its prior uptrend. Should follow-through momentum continue, we reckon that BDB could potentially extend its gains to RM2.43 next. Traders should look to take profit 3 bids below the “Ascending Triangle” TP at RM2.40, while employing a stop loss at RM1.82 (representing 3 bids below the RM1.85 resistance-turned-support level).

 

Source: Kenanga