Kenanga Research & Investment
Highlights / Stock Picks of the Day - Tek Seng Holdings Berhad (TEKSENG) – Not Rated
TEKSENG’ share price rally to RM0.625 (+23.8%) yesterday due to the better earnings reported in 1H14 compared to 1H13. From a technical perspective, TEKSENG has broken out from the strong resistance-turned-support level of RM0.50 supported by high daily trading volume. Although both the RSI and Stochastic are in overbought territory, MACD indicator shows a positive divergence, suggesting bullish momentum is building up. Moreover, all three SMA levels are also trending upwards supporting the bullish bias. We reckon that should buying interest persists, TEKSENG could rally towards its next resistance level of RM0.67 (R1) and possibly RM0.725 (R2) next.
Source: Kenanga
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
