SOLID’s share price was up by 5.0sen (4.3%) to RM1.21 on higher trading volume. Chart-wise, all 3 SMA’s have broken the horizontal cycle and are starting to hook upwards. Key indicators are also solid as the MACD is diverging further above the Signal Line. RSI and Stochastic are bullish and are hovering at Overbought level confirming the strong buying interest. Should this bullish momentum persist, we expect share price to test the next resistance level at RM1.29 (R1) and consequently RM1.36 (R2) after which it may face a slight consolidation to neutralize the RSI and Stochastic' Overbought situation.

 

 

Source: Kenanga