Highlights / Stock Picks of the Day - Atlan Holdings ("ATLAN") – Not Rated

ATLAN had never really caught our attention due to  its thinly traded nature - at least until very recently. We noticed that the share price had been on an uptrend since March 2012, and that it had been particularly resilient despite the weakness in the broader market of late. At yesterday's closing price of RM4.69, the share price was up 9 sen for the day. Trading volume was notably higher, and in fact, the share price has
broken out of the classic "Bollinger Squeeze". We reckon that the move represents a resumption of the uptrend, and expect the share price to gradually move higher in the coming weeks. Traders looking to buy into the stock may target the immediate RM5.00 and RM5.19 Fibonacci Projection levels, while a stop loss of RM4.53 may be placed.

Source: Kenanga