QL gained 38.0 sen (7.14%) yesterday to end at RM5.70.
Chart-wise, the share had been riding on an uptrend since Sep-2016. Yesterday’s move further reiterates the bullish move with a break above its previous high of RM5.57.
Technical outlook once again is looking positive with meaningful upticks in key technical indicators after some consolidation in the past two weeks.
From here, expect the share to test its next resistance level at RM6.07 (R1) and possibly higher up at RM6.35 (R2).
Downside bias will see supports at RM5.62 (S1) and RM5.17 (S2).
SUPERMX (Not Rated)
Yesterday, SUPERMX gained 12.0 sen (3.73%) to close higher at RM3.34, firmly above key moving averages.
This brought the share to break out of its short consolidation for the past few days, possibly reiterating a continuation of its underlying uptrend.
From here, its immediate resistance at around RM3.40 (R1) first needs to be taken out decisively before the technical picture can turn affirmatively bullish. A further resistance can be found higher up at 3.54 (R2).
Meanwhile, downside supports can be seen at RM 3.29 (S1) and 3.21 (S2) further down.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....