Eden Inc. Bhd (Stock code 7471) RM0.33
Eden is displaying early signs of a resistance breakout. The previous overhead resistance of RM0.315 is now its support level. Indicative of itsupward potential, the daily indicators are also rising in tandem. Naturally, the stochastic indicator is a bit overbought at the moment suggesting some minor consolidation or pullback.
However, the overall bullish technical stance outweighs the short-term overbought position. It had also broken through its 50-day moving averages of RM0.305 and we recommend a trading buy on Eden.
by Mercury Securities
Eden is involved in restaurant business and low-voltage switchgears and electrical components