SEAL’s share price was up 10 sen (9.4%) yesterday, on higher trading volume. Chart-wise, a “Morning Doji Star” reversal pattern has appeared as the share price which has been in a downtrend saw a ‘Doji’ candlestick which signaled indecision while the just-formed ‘Marubozu’ like candlestick suggests potential establishment of uptrend in coming days. Key indicators are looking more positive as MACD appears to be closing in on the Signal line, while RSI and Stochastics are hooking upwards from Oversold level. Thus, we reckon the share price will re-test RM1.22 (R1), and consecutively RM1.27 (R2).

 

 

Source: Kenanga