Ezra Holdings - Likely further recovery after bullish break

Closing Price:  Last Market Volume:  52 Week Range:
$1.155 9.0m shares $0.82 - $1.36

Key hurdles conquered. Ezra Holdings is likely to see more upside ahead after rebounding off its lower channel boundary support recently; this was followed by a strong bullish break above its 2-month downtrend resistance and $1.14 key resistance on heavy volume yesterday.

Daily Chart
Indicator is bullish. The MACD has just initiated a sharp bullish crossover; this suggests that the upside momentum is building up.

Next resistance at $1.24. The counter could head higher towards the next key obstacle at around $1.24 (key peaks) in the weeks ahead.

Immediate support at $1.14. Meanwhile, we advocate a stop-loss exit at around $1.08, which is slightly below the newly established resistance-turned-support level at $1.14.

Source : OCBC Research