DIGI’s share price has rallied in CY14, and increased by 19sen (3.46%) yesterday, on higher trading volume. A “Rounding Bottom” chart has become more prominent, while yesterday’s share price gain has broken out of the resistance turned support level of RM5.57. The MACD indicator is hooking upwards, suggesting a bullish near term trend ahead, Key Indicators such as RSI and Stochastics are also positive, landing a hand on the bullish bias. We expect followthrough buying interest to rally the share price towards its next resistance level of RM5.85 (R1) and possibly RM6.02 (R2) further.
Source: Kenanga