Plastic manufacturer TGUAN gained 22.0 sen (+8.33%) yesterday, closing at its 5-year high with strong trading volume recorded, indicating heightening investors’ interest in the stock as they announced the rights issue of ICULS with free warrants since several months ago. Technically speaking, the uptrend appears to be intact with MACD staging a crossover of the Signal line. Although Stochastic indicator appears to be in the overbought territory, overall buying momentum is still strong with RSI hooking upwards. If the buying pressure continues, TGUAN may test the RM3.00 (R1) level and RM3.25 (R2) next.

 

 

Source: Kenanga