Kenanga Research & Investment

Highlights / Stock Picks of the Day - Telekom Malaysia Bhd – Not Rated

kiasutrader
Publish date: Wed, 10 Dec 2014, 09:24 AM
Yesterday, TM gained 26.0 sen (+3.92%) to close at RM6.90. Its share price has experienced a sharp correction since end of Nov amid weak market sentiment. Recently, its share price rebounded strongly with a long white candlestick taking shape signalling bulls regaining grounds from the bears. MACD has also hooked up slightly from its recent downtrend coupled with a revival in buying interest with both its Stochastic and RSI indicators rebounding from oversold territory. Based on the signals shown, we believe the rebound could lead to further strength in its share price and follow through buying interest could propel it to RM7.15 (R1) in the near-term with RM7.33 (R2) possibly next.
 
 
 
Source: Kenanga
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