ASTINO gained 1.5 sen or +1.90% yesterday post its announcement of proposed dividend payout of 2.91 sen/share two days ago. Interest is gaining momentum in the stock with a spike in trading volume observed. Meanwhile, a positive crossover of the Signal line was staged by the MACD while it appears poised to cross the zero line from the negative zone. Stochastic indicator has also emerged from its oversold level with an obvious hook up signal, suggesting a potential reversal from its recent downtrend. Besides, RSI indicator is also hooking upwards with room for further upside indicating strong buying pressure from the market. If the robust momentum persists, it could retest the RM0.87 (R1) level and possibly RM0.94 (R2) next.

 

 

Source: Kenanga