Apart from the news of QL Resources has proposed a conditional voluntary takeover offer to acquire all the remaining shares it does not already own in Lay Hong, for a total cash consideration of RM3.50/share, the prevailing lower feed cost has also encourage trading/investment sentiment in all the poultry players. LTKM being one of them which has been trading on an uptrend since 2013. After a month of consolidation, LTKM broke out from the strong resistance level of RM4.67 with share price rising by 24.0 sen to settle at RM4.90 yesterday. All key indicators are hooking upwards, hinting the positive buying momentum ahead. Should the buying interest is sustained, we believe LTKM may go through another round of rally with the immediate resistance of RM5.32 (R1).

 

 

Source: Kenanga