Interest in SEAL is strong with strong earnings contribution from property segment seen in 3Q14 results. Its share price rose by a whopping 13.0 sen (13.0%) yesterday to close at its all-time high level level of RM1.13. From a technical perspective, SEAL has broken out from its ‘Fibonacci’ resistance level of RM1.02 with high trading volume. MACD is still on an uptrend maintaining its positive divergence from Signal line. The RSI indicator is still hooking upwards albeit being in a slight overbought territory. We believe followthrough buying interest could rally the share price towards RM1.32 (R1) next. A strict stop-loss should be placed 3 bids below its new ‘Resistance-turned-support’ level of RM1.02 (S2).

 

Source: Kenanga