OSK Holdings Stock Code 5053
Last week, OSK broke out of a classic “Symmetrical Triangle” amid an increase in volume. The bullish move is a game changer for the stock, and we reckon that the technical picture has undoubtedly turned bullish asa result.
Technically speaking, a new uptrend has established itself, and the key indicators such as the MACD and RSI are also supportive of further gains to come. We believe that over time, the share price would gradually make its way towards the RM1.90 triangle measurement objective. More importantly, downside appears limited, and we expect the RM1.50 resistance-turned-support to present a decent level of bargain hunting
by Kenanga Research
