Kenanga Research & Investment
Highlights / Stock Picks of the Day - Selangor Properties Bhd (SPB) – Not Rated
SPB gained 16.0 sen (+2.65%) yesterday to stage a bullish breakout from its multimonth trend channel resistance of RM6.06. MACD indicator is forming a bullish divergence over the Signal line lending a hand to the bullish bias. Meanwhile, its Stochastic indicator has also rebounded from the oversold territory, signifying a strong reversal from its recent down trend. This is further reinforced with an uptick in RSI indicator, suggesting buying momentum on the stock is pilling up. Overall, SPB’s chart appears to be bullish and it could retest the RM6.24 (R1) fairly soon with RM6.47 (R2) possibly next.
Source: Kenanga
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
