Highlights / Stock Picks of the Day - Zhulian Corporation Berhad ("ZHULIAN")

Similarly, ZHULIAN's share price has been trending  upwards since midyear. The share price was notably resilient in recent weeks despite the sub-par performance of the broader market. In fact, ZHULIAN's share
price rose 6 sen to close at RM2.73, forming a bullish "Marubozu" candlestick which broke out of the triangle resistance. With the former resistance level now turned support, we believe that ZHULIAN is well
equipped for an uptrend resumption. Additionally, the indicators have all turned bullish and we reckon that ZHULIAN may be at the new leg of a 35 - 40 sen up-cycle. That said, traders may consider buying in now, with the first target of RM2.80, and RM2.95 next. Meanwhile, a stop-loss should be placed just below the recent support at RM2.58.

Source: Kenanga