Friday, June 25, 2010

OSK Research: Proton?s mid-term outlook bullish

KUALA LUMPUR:PROTON HOLDINGS BHD []'s mid-term outlook is bullish as it continues to trend higher along the uptrend line, says OSK Research.

It said on Friday, June 25 that a breakout from the RM5 tough resistance level would see the stock continue to stretch its uptrend.

"However, there is still initial resistance at the RM4.77 level. To the downside, there is immediate support at the RM4.39 level, followed by the RM4.17 level," it said.

OSK Research said the daily RSI closed at the 52.1 pt-level on Thursday, which means that the stock is currently not overbought and the door is open for additional gains.

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