Highlights / Stock Picks of the Day - Johore Tin Berhad ("JOHORTIN") –NOT RATED

In end-October, JOHORTIN's share price violated the trend line support at RM1.60. On a technical basis, the trend line support had turned resistance, and the outlook weakened as a result of the bearish move. In fact, the share price had on several attempts retested the trend line from below over the past three months. It wasn't until yesterday that the share price decisively penetrated the trend again. Yesterday, the share price ended 11 sen higher at RM1.93. Trading volumes were relatively high for the day, and the MACD Histogram is expanding. As with INGRESS, we reckon that momentum would likely carry the share price higher in the near term, and the share price should make decent intraday trades as well. The immediate resistance is likely to be present at RM2.04 and RM2.20, while support is located at RM1.89 and RM1.79.

Source: Kenanga