Highlights / Stock Picks of the Day SKP Resources ("SKPRES") – Not Rated

Flashing back to a year ago, SKPRES had more than doubled from 18 sen to 37 sen within a short span of just three months. The share price had since been trading within a range-bound fashion between 32 sen - 37 sen and had been relatively predictable in this respect. Noteworthy though was that SKPREES was among the most actively traded stocks yesterday. The share price rose 1 sen at 36.5 sen yesterday, and is nearing the aforementioned channel resistance. Should follow-through momentum carry the share price beyond 37 sen in the near term, the share price could potentially rally towards 42 sen and 45 sen next. Failing which, we
may see a retreat towards the 32 sen support where  strong support would exist. For now, watch for a breakout above 37 sen.

Source: Kenanga