BHD's share price surged by 15.0 sen yesterday, supported by strong trading volume. On the daily chart, DBH has formed a classic triangle chart pattern. After four months of consolidation and volume contraction, the share price had finally broken out from the resistance level at RM1.50 which marks a bullish continuation of previous uptrend. DBH is currently trading above all SMAs, while Stochastic and RSI are hooking upwards, suggesting that a bullish momentum is underway. We reckon that the bullish move could carry the share price higher to RM1.80 (R1) in the coming weeks.

 

 

Source: Kenanga