After the legal suit against KIANJOO is stricken out by the court on 14th Nov 2014, interest in the stock has regained momentum. Yesterday, its share price rose 2.79% (+8.0sen) on strong trading volume recorded. A breakout from its multimonth downtrend is seen at RM2.89 with its MACD diverging further positively from its Signal line, signaling a strong bullish trend. Buying momentum appears to be robust its Stochastic and RSI indicators seen rebounding strongly from the oversold territory. In the near term, its share price could retest the RM3.10 (R1) level with RM3.17 (R2) possibly next.

 

 

Source: Kenanga