Yesterday, BIG’s share price rose by 4 sen to settle at RM0.74. Chart-wise, the share price has formed a classic “Triangle” pattern, breaking out from its multimonth downtrend resistance level of RM0.69. The positive crossover of MACD and uptick of key indicators (Stochastic and RSI), suggest that buying momentum is building up. Coupled with the spike in trading volume, we view the share price as leaning towards a bullish bias outlook. Traders who buy into this stock should aim to take profit at RM1.32 (3-bids below measurement objective), while placing a strict stop-loss of RM0.66.

 

 

Source: Kenanga