Posted by BURSAMASTER > 2015-04-11 22:17 | Report Abuse

Highlights / Stock Picks of the Day - Evergreen Fiberboard Berhad (EVERGRN) – Trading Buy
Author: kiasutrader | Publish date: Fri, 10 Apr 2015, 09:25 AM

EVERGRN rose 2.0 sen or 1.7% to close at RM1.21 after a consolidation phase from its recent high of RM1.28. Key indicators are painting a bullish picture as RSI is heading north while Stochastic has performed a positive crossover. Historical trend also suggests that the share price may stage a rebound from the 20-day SMA line or its channel support level. We anticipate that the share price will rebound towards its channel resistance level of RM1.37. Hence, we are issuing a “Trading Buy” call with a target price pegged at RM1.37.