Oct 29, 2012

Watch for Trading Opportunities – Naim

Naim Holdings Bhd (stock code 5073) Properties – RM1.99.

naim technical analysis
above: Naim daily chart (click to enlarge)

Chart wise:
Naim’s candles are on the mend after nearing the RM1.73 three weeks ago. The recovery has allowed the candles to take out both the downtrend line and the RM1.95 level. Meanwhile, its momentum indicators have topped above their respectively upper limit lines and continuing to strengthen.

Therefore, the upside bias on the stock is still present and there are Trading buy opportunities if the candles stay above the RM1.95 level. . On the upside, the resistance is at RM2.05. The other support, meanwhile, is at RM1.68.

by Mercury Securities