KCTrader7

ARBB - CATCH THE DIP OR NOT?

MYX:ARBB   ARB BERHAD
DISCLAIMER
THIS IS NOT AN INVESTMENT ADVICE, TRADE AT YOUR OWN RISK & OPPORTUNITY !!!

As we can see from the chart, it has broken down from its falling wedge (they are supposed to be bullish pattern as it usually indicates reversal) but it broke down with big red candle. One of the main contributors could possibly be the bad QR results. So far the price is consolidating sideways and it should not fall and close below the support level of 0.275. The RSI levels are pretty near the oversold levels and 0% banker chips. I don't really recommend this for day trade due to its low daily volume and the bad sentiment on this counter. Overall it's in a strong downtrend so it's not really recommended to entry now unless you want to catch the dip with support level as your reference.

R: 0.295, 0.315
S: 0.275


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