Jun 20, 2012

Buy Bintai on weakness

Current Stock Review
Bintai Kinden Corporation Bhd (stock code 6998) Trading/Services –RM0.525


Chart wise:
Bintai Kinden was a trading buy and its share price has since gained nearly 15%. This comes after the candles broke free of its congestion area at the RM0.50 sen levels on Monday. The breakout has also improved its outlook, albeit the overbought indicators and is poised for further upsides in the absence of any impending weakness signs.

As such we are calling a Trading buy recommendation on the stock with resistance pegged at RM0.535. The supports, meanwhile, is at RM0.505 and at RM0.45.

by Mercury Securities