Yesterday, BHS gained 44.0 sen to close at RM3.30 with a spike in trading volume. From the technical perspective, the share price has gapped out from its multimonth channel resistance level of RM2.97. In addition to that, MACD has staged a positive crossover of the Signal Line, indicating bullish bias. Meanwhile, positive readings are also gathered from the momentum indicators showing that buying momentum is piling up. With the bullish bias on the stock, we view that the share price could trend towards our measurement objective of RM4.01.

 

 

Source: Kenanga