HOMERIZ share price was up by 9.5sen (10.3%) on higher trading volume. There appears to be a long ‘White Marubozu’ like candlestick, while a ‘Golden Cross’ has occurred between the 20–day and 50–day SMA trend lines. Key indicators are all bullish

and pointing upwards. We believe share price uptrend remained on a bullish bias in the near term given that RSI level is trending upwards strongly and has yet to peak at its overbought level (currently 77% vs. 1-year high of 81%). Thus in tandem with the increasing trading volume, we advocate investors who look to ride on the bullish momentum to buy into the stock and expect the share price to potentially rally towards RM1.09 (R2). Meanwhile for longer term investors, do watch out for buying opportunity

should the share price does consolidate to neutralize its overbought situation at RM0.96 level (S1).

 

 

Source: Kenanga