Kenanga Research & Investment
Highlights / Stock Picks of the Day - Pentamaster Corporation Berhad (PENTA) – Not Rated
PENTA had recently secured an order book of RM30.0m for 2QCY14, which is substantially higher than its mere RM17.0m order book secured the previous corresponding period. Yesterday, PENTA rose 5 sen (+16.4%) to close at RM0.35 with high trading volume. Technical-wise, PENTA had recently broken out from its trend channel resistance level of RM0.29. The MACD is also hooking away from its zero line, landing a hand for a bullish movement in the near-term. Key indicators are also portraying a strong bullish signal by hooking upwards, supporting the bullish angle. We believe follow-through buying interest could rally the share towards its next resistance level of RM0.37 (R1) and possibly RM0.43 (R2) next.
Source: Kenanga
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