Yesterday, QL has broken out from the strong resistance-turned-support level of RM3.48 and closed at RM3.52. The share price is well supported by all SMAs (20-, 50-, and 100-) and the increase in daily trading volume coupled with white daily candlestick indicates that the positive buying momentum. Positive reading from the key indicators (MACD, RSI and Stochastic) has further support our positive view. We reckon that QL could retest its previous high of RM3.60 (R1) should the buying interests persist.

 

 

Source: Kenanga