Stock Name: BOLTON
Company Name: BOLTON BHD
Research House: OSK
KUALA LUMPUR: OSK Research sees more upside for Bolton and said traders can accumulate the shares at above the RM1 level and bet on a continuation of last Friday's aggressive rally.
In its technical outlook issued on Tuesday, Aug 3, it said'' Bolton's share price rallied strongly last Friday and it was seen consolidating these gains yesterday.
'As long as the consolidation of the share price is at around the RM1 level, or in the vicinity of a 50% retracement of last Friday's gains, the consolidation phase should be viewed as healthy,' it said.
Traders can consider accumulating the shares at above the RM1.00 level. OSK Research said its cut-loss point is pegged at below last Friday's opening level of 96 sen.
'We are eyeing the RM1.25 level as the upside target. From the above chart, we can see how its price trend has been changing ' from the sideways trend during the July 09-June 10 period to the recent strong surge in its share price,' it said.
Company Name: BOLTON BHD
Research House: OSK
KUALA LUMPUR: OSK Research sees more upside for Bolton and said traders can accumulate the shares at above the RM1 level and bet on a continuation of last Friday's aggressive rally.
In its technical outlook issued on Tuesday, Aug 3, it said'' Bolton's share price rallied strongly last Friday and it was seen consolidating these gains yesterday.
'As long as the consolidation of the share price is at around the RM1 level, or in the vicinity of a 50% retracement of last Friday's gains, the consolidation phase should be viewed as healthy,' it said.
Traders can consider accumulating the shares at above the RM1.00 level. OSK Research said its cut-loss point is pegged at below last Friday's opening level of 96 sen.
'We are eyeing the RM1.25 level as the upside target. From the above chart, we can see how its price trend has been changing ' from the sideways trend during the July 09-June 10 period to the recent strong surge in its share price,' it said.
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