Highlights / Stock Picks of the Day - Star Publications ("STAR") – Not Rated

Since early November, STAR has lost almost 20%. The stock's downtrend has been unrelenting and its overall technical landscape is undoubtedly negative. However, we are beginning to see signs that the selling pressure is waning and that a technical rebound may be due. The stock has formed multiple "Dragonfly Doji" candlesticks at the RM2.50 level, while the MACD is sending bullish divergent signals. In fact, the share price climbed 4 sen yesterday to RM2.56, and as a result, the 14-day Stochastic and RSI indicators have both hooked upwards from oversold levels. We anticipate some follow-through buying today, and expect some buying up to RM2.59, and possibly RM2.67.

Source: Kenanga