Highlights / Stock Picks of the Day - Time Engineering Berhad ("TIME")

Time Engineering Bhd's ("TIME") share price was actively traded on Thursday after its major shareholder UEM Group Bhd  said it expects to conclude the disposal of its 45% interest in TIME by the end of the year. From a technical perspective, TIME has broken out of its 9-month long downtrend and concurrently, its 21-day upper Bollinger band on high volumes. We believe the breakout could be a prelude for further upside ahead. Additionally, the indicators have all hooked up to reflect the shift in momentum from bearish to bullish. Aggressive traders could start to nibble on the stock now, while more conservative investors should wait for a pullback towards RM0.30 before buying into the stock.

Source: Kenanga