Highlights / Stock Picks of the Day Dialog Group Berhad ("DIALOG")

Bucking for the downtrend, Dialog's share price rose 4 sen on Monday to close at RM2.44 on luke warm trading activity. After breaking out of the triangle resistance, the share price has thus far managed to hold up above this RM2.38 resistance-turned-support level in recent days. Monday's strong upward move also lends further conviction to the positive technical picture, after the share price managed a close above the earlyOctober intraday high of RM2.42.  At the moment, we reckon the bullish momentum is likely to continue as the MACD histogram is expanding northwards while the the RSI is seen inching higher within a positive territory. Traders may look to buy into the stock, with a stop loss placed at RM2.35. Overhead resistance can be found at RM2.53 in the meantime.

Source: Kenanga