Penang-based developer SEAL attracted investors' attention due to its earnings rebound in the latest reporting quarter and its flagship property development project in Cheras, KL. Yesterday, SEAL advanced another 2.5 sen to RM0.83 (5 years high) as investors are growing confident on the company’s future prospect. From a technical perspective, the huge increase in trading volume coupled with positive readings from the key momentum indicators are suggesting that SEAL is ready for further upside. Should buying momentum persists, we believe that SEAL could possibly retest its next resistance level at RM0.86 (R1) and RM0.92 (R2).

 

Source: Kenanga