Highlights / Stock Picks of the Day - Parkson Holdings Berhad ("PARKSON")

Similarly, PARKSON's share price rose 25 sen to end the day at its highest levels since May at RM5.10. The Edge newspaper attributed the gains to the encouraging performance of the company's self-owned KL Festival City retail mall. With the sharp single-day advance, PARKSON has confirmed the "Double Bottom" bullish reversal pattern. The technical picture has improved significantly and the share price looks well
positioned for a rebound after a year-long downtrend. The key indicators are on a rising trend, and we reckon that over time, the share price is likely to make its way towards the RM5.40 measurement objective.
Downside support in the meantime can be found at the RM4.88 trigger line, a level where strong buying interest will likely exist.

Source: Kenanga