FITTERS’ share price spiked up 7.0 sen or 6.03% to close at RM1.23 yesterday. A breakout is seen from its strong resistance at RM1.11 with pickup in trading volume seen recently. It still appears to be trading on an uptrend with the share price staying above its 3 key SMAs while the MACD has crossed over the Signal line. Meanwhile, momentum appears strong with Stochastic and RSI indicators hooking upwards. From the technical view point, this uptrend could persist in the near-term. Immediate resistance is pegged at RM1.24 (R1) and follow-though buying could see it testing RM1.32 (R2).

 

 

Source: Kenanga