BRDB may rally further if it can break above the one-year resistance of RM2.50. A position can be initiated if it closes above the level with a close below the recent low of RM2.30 as a stop-loss. A conservative trade will be to wait until a close above RM2.60, 2011’s intraday high, before initiating a position.The price targets are RM2.80 and the psychological RM3.00. Failure to break higher could see the stock lower and supports are at RM2.00 and RM1.80.
Source: OSK
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