Highlights / Stock Picks of the Day - Winsun Technologies ("WINSUN") – Not Rated

WINSUN's share price has been on a sustained downtrend for a year now. However, we are seeing early signs of a trend reversal on the daily chart. Yesterday, the share price surged 2 sen to settle at 11 sen. Trading volume was high, and WINSUN formed a bullish “White Marubozu” candlestick as a result of the upwards move. In fact, the share price has broken above both the trendline, as well as the 21-day Bollinger band. This potentially marks the end of the downtrend (much like the “light at the end of the tunnel” analogy). The key indicators are also supportive of a move higher, with the MACD completing a signal-line crossover and the share price firmly above the short, medium and long term SMAs. We reckon that follow through buying should continue in the near term, and expect the 12 sen and 14 sen levels to be attainable.

Source: Kenanga