Market sentiment became better so far. Several penny stocks rebound stock strong uptrend momentum. As old wise saying: make the trend your friend, not enemy. We still focus on stock with intact uptrend momentum. As stock market swifting interests from dollar counter to penny counter, so do we. ESAFE is one of the penny stock that recover fast from bearish August market. Most chips traded at RM0.36, and thus can be considered as support/resistance pivotal point. Although ESAFE opening RM0.36 on Friday and tried to push up to next resistance RM0.40 , it failed. Price dropping back to support level RM0.36 and we should expect few days churning/ washing exercises. As long as price floating between RM0.35/0.36 it still considered good support and strong rally should happen soon. Monitors for possible breakout from RM0.40
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Price restrace from strong gap-up with little volume showing that is may just another conventional shake-out. Risk-taker investors may take on more position currently and wait for rebound.