Kenanga Research & Investment
Highlights / Stock Picks of the Day - Tropicana Corporation Berhad (TROP) – Not Rated
TROP recently rebounded from its recent sell-down breaking above its multi-month downtrend resistance level as well as above its 20-day SMA level. The strong revival in its share price signals a potential reversal rally ahead. MACD indicator has also staged a crossover its signal line, suggesting that bullish momentum is building up. Adding on to the bullish-bias is the uptick in both Stochastic and RSI indicator, in tandem with the inclining trading volume. With follow through buying interest on the stock, we view that the share price could continue its rebound rally towards its next resistance level of RM1.22 (R1) and possibly RM1.30 (R2) next.
Source: Kenanga
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