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Hot Stock Comintel extends gains on firm buying momentum
by Cals Fri 15 Apr 2016, 00:47
- Hot Stock
[size=28]Comintel extends gains on firm buying momentum
By Surin Murugiah / theedgemarkets.com | April 14, 2016 : 9:30 AM MYTKUALA LUMPUR (April 14): Comintel Corporation Bhd shares extended their gains this morning after Hong Leong IB Research said Comintel was expected to remain up and bullish on the back of strong buying momentum.
At 9.10am, Comintel rose 0.64% or half a sen to 78.5 sen with 1.05 million shares done.
In a trading idea note today, the research house said Comintel reported another quarterly record high earnings for its fourth quarter, causing a renewed surge in share price on March 25, 2016.
“At this juncture, we expect the trend of the stock to remain up and bullish on the back of strong buying momentum in daily MACD, RSI and Stochastics oscillators.
“On anticipation of further upside, technical upside resistances of 84 sen , 89.5 sen , and 96 sen (long-term objective).
“Supports are at 77 sen and 75 sen. Cut loss below 73 sen,” it said.
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