Hot Stock Tadmax jumps 5.19% on sustained buying momentum
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Hot Stock Tadmax jumps 5.19% on sustained buying momentum
- Hot Stock
[size=28]Tadmax jumps 5.19% on sustained buying momentum
By Surin Murugiah / theedgemarkets.com | May 12, 2016 : 9:30 AM MYTKUALA LUMPUR (May 12): Shares of Tadmax Resources Bhd jumped 5.19% in early trade today after Hong Leong IB Research said resumption of uptrend following recent Tadmax Resources Bhd’s share price retracement is expected to be driven by Flag pattern breakout; ‘Positive Divergence’ pattern; and bullish reading from oscillators.
At 9.10am, Tadmax rose 2 sen to 40.5 sen with 606,700 shares traded.
In a trading idea note today, the research house said given the strong buying interests in the stock, it was of the view that Tadmax’s share price is expected to gain further buying momentum towards 41 sen, 44 sen and 47 sen.
“Support at 36.5 sen and 36 sen with cut loss below 35.5 sen,” it said.
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