Kenanga Research & Investment
Highlights / Stock Picks of the Day - Ann Joo Resources Berhad (ANNJOO) – Not Rated
Investors are anticipating a better quarterly result which will be announced end of this month. This has driven ANNJOO's share price higher by 7 sen to settle at RM1.42 yesterday. Immediate trend of ANNJOO is bullish, as the stock is currently trading above all SMAs (20, 50 and 100). Strong buying volume was observed yesterday, with all momentum indicators hitting the roof. Should buying momentum sustain over the next few days, we suspect that it may carry the share price higher towards RM1.50 (R1). Correspondingly, a stop-loss of RM1.30 should also be placed.
Source: Kenanga
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