NIHSIN’s share price surged 10.4% or 4.0 sen to close at RM0.425 yesterday with an uptick in trading volume. After consolidating in the month of Nov, its share price has rebounded from its strong support, marking the start of a possible uptrend. MACD line has also rebounded, looking poised to stage a positive crossover in the Signal line in the near-term. Buying interest has also picked up with its Stochastic and RSI indicators trending upwards. We believe that the share price could break free from its consolidation pattern and retest the RM0.45 (R1) level in the nearterm.

Source: Kenanga