QES - Rocketing on Earnings Inflection Point
As we can see, QES is currently trading on a strong uptrend despite weak market condition for the past few days. We are anticipating more upside based on this strength for now as the RSI is still not in a highly overbought situation yet. Based on Fibo extension, we are anticipating the stock to test RM0.95 and RM1 first before further rally towards RM1.20 for now. Overall despite a potential retracement in the near future, we still expect QES to perform well in a steady uptrend mode over the mid term due to positive earnings outlook.
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