YSPSAH (NR), a pharmaceutical player was one of the few counters that bucked the negative market breadth yesterday. It rebounded from its immediate support level of RM2.03 (S1) to close at RM2.11 after a one-month consolidation. Chart-wise, it has recently broken out from its “Pennant” chart pattern as the share price looks to rally towards the measurement objective target price of RM2.74. However, technical indicators are still depicting uncertain and mixed signals. MACD is heading south while both RSI and Stochastic indicators are moving sideways, showing that investors are still sitting on the fence. Therefore, we advocate investors who are interested, to seek stronger rebound signals before accumulating the stock.

Source: Kenanga Research - 16 Jun 2015