BRAHIMS gained investor’s interest after media news reported that the company is interested to buy the Burger King franchise. Chart-wise, the share price rebounded from the support level of RM1.19 and closed at RM1.35 (+11.0 sen) yesterday coupled with high daily trading volume. The MACD indicator has also just positively crossed over the Signal line, while both Stochastic and RSI rebounded from oversold territory, suggesting the buying interests are building up. We believe with more positive news flow and strong buying interest, BRAHIMS could possibly retest its resistance of RM1.55 (R1) and RM1.77 (R2) fairly soon.

 

 

 

Source: Kenanga