SKP RESOURCES BHD Stock Code 7155
above: SKPRES Daily Chart (click to enlarge)
SKPRES has been consolidating after it hit the high of RM1.58 at end of July 2015. SKPRES won RM3.0b worth of contract from its existing customer, Dyson Ltd yesterday to produce its new range of cordless vacuum. In tandem with this positive news, the share price gained 1.0 sen to RM1.35 supported by high daily trading volume. The 14-day Stochastic and RSI indicators have also hooked up to herald the start of an up cycle while the MACD histogram is expanding further.
However, should share price break above the +2SD regression line at RM1.40 (R1), the overall trend would turn bullish. That said, it could potentially retest the previous high of RM1.58 next, while immediate support is at RM1.32 (S1).
by Kenanga Research 17/9/2015
SKP RESOURCES BHD
The Company is an investment holding company. Its subsidiaries are involved in manufacture of plastic parts and components for electronic and electrical products.
