Recently, the major shareholder of hotel and property management firm PMHLDG, MUI has announced of its interest to dispose 69.2% stake in PMHLDG to Datuk Yu Kuan Chon. Chart wise, PMHLG’s share price has broken up from its “flag pattern” to settle at RM0.425 (+6.5 sen), backed by a surge in trading volume, indicating that buying interest is strong. The stock Is currently trading above all of its SMA (20, 50 and 100 days), with all key indicators (MACD, Stochastic Indicator and RSI) hooking upwards. The

Stochastic Indicator shows that the stock has emerge above its oversold zone, indicating a reversal play from its recent downtrend. Should buying interest persist to grow, we expect the share price to rally towards our “Flagpole” measurement objective target price of RM0.55 in the near term.

 

 

Source: Kenanga