Oct 28, 2015

NAIM - Technical Outlook


naim share analysis

NAIM (Not Rated). Yesterday, NAIM surged 20 sen or 9.21% to break above its 5-month downtrend resistance-turned-support level, settling above all its key SMAs on the back of stronger-than-average trading volume. At the closing bell, the share price also surpassed its 61.8% Fibonacci level at RM2.36 (R1). Stochastic indicator has entered overbought zone yesterday, but healthy key pointers such as MACD and RSI are suggesting further room for advancement. Should the buying momentum persist, we believe it can retest at its 76.5% Fibonacci level of RM2.45 (R1).

by Kenanga Research 28/10/15

The Company is fully-integrated property and construction focusing on integrated property developments construction civil engineering oil and gas and infrastructure projects and oil and gas services through its investment.