BINTAI KINDEN CORPORATION BHD Stock Code 6998
below: BINTAI Daily Chart
BINTAI was in the limelight after it received a RM64.9m mechanical, electrical and plumbing contract for the Rosewood Hotel in Phnom Penh, Cambodia. In tandem with strong volume traded, the share price has staged a strong rally of 4.5 sen (15%) to stage a breakout from its multi-month downtrend resistance level to close at RM0.345 yesterday. The MACD has also staged a crossover from its Signal line to indicate a bullish outlook ahead, while strong buying momentum is showcased by the uptick in RSI and Stochastic. On the flip side, we view that a short-term consolidation with upside-bias could be on the cards as the strong rally yesterday may be overdone. Near-term upside is seen capped at the RM0.39 (R2) level, with immediate resistance set at RM0.35 (R1).
Source: Kenanga Research – 24/11/2015
BINTAI KINDEN CORPORATION BERHAD
The principal activities of the Group are the provision of specialized services in mechanical and electrical works construction of power plants and transmission lines property investment and development and undertaking of turnkey construction projects.