Positive Trade.

DRB-HICOM : Potential Upside in Short-Medium Term.

Foresight123
Publish date: Tue, 02 Sep 2014, 12:07 AM
Disclaimer: All data and information provided on this article and blog is for informational purposes only. I make no representations as to completeness of information and will not be held liable for any losses.

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DRB-HICOM reported solid earnings in the latest quarter. 
 

   

 

 (source: http://www.bursamalaysia.com/market/listed-companies/company-announcements/1725033)

 

The more fascinating fact is how this stock reacted and closed above key levels last Friday.

                                                       (source: tradesignum.com)

 

Last Friday, this stock gapped up at the RM2.20 level, a strong level above the 20 and 50 MA.
With this being said, this stock could edge up higher after breaking its first level resistance after months of consolidation.
The last time this stock gapped up above the 20MA, it was a RM0.43 move upwards from RM 2.50 to a high of RM2.93 
(17.2%+) back in December 2013.
 

Support : RM 2.14

Resistance: RM2.48 (The 200 MA)

http://klse.i3investor.com/servlets/stk/1619.jsp

Note: Trade at your own risk.

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