BOILERM has been trading sideway within the range of RM2.97-RM3.04 in the last two-and-half months. Yesterday, BOILERM finally jumped by 15 sen and broke out from its resistance level at RM3.10 to close at RM3.13. Investors like this stock as BOILERM is growing and expanding steadily since its listing on ACE market in 2011 and it had applied for a transfer to Main Market recently. Technically speaking, the MACD has just crossed over the signal line to confirm a buy signal, while the RSI and Stochastic indicators are also hooking upwards, indicating the buying interest is building up. We reckon that follow through buying interest could pick up, and the share price could extend its rally towards RM3.40 (R1) and possibly RM3.50 (R2) next.

Source: Kenanga