Fundamentally healthy company. Company only reported 1 QR loss for pass 5 years.
Uptrend continuous formation since Feb 2021.
Heavy support at RM0.385 and RM0.39
Price break out RM0.40 with increased volume.
Proper retrace and profit taking for 2 days.
Price able to sustain above support level at RM0.39, good sign that the uptrend momentum is still intact.
Recommendation:
1)waiting for more confirmation price pattern ( etc. Bullish engulfing) and better pattern set up.
2) Risk seeker may also building up their position around support level for better returns.
Entry:RM0.39
TP: RM0.445
Cut-loss: RM0.36
Uptrend continuous formation since Feb 2021.
Heavy support at RM0.385 and RM0.39
Price break out RM0.40 with increased volume.
Proper retrace and profit taking for 2 days.
Price able to sustain above support level at RM0.39, good sign that the uptrend momentum is still intact.
Recommendation:
1)waiting for more confirmation price pattern ( etc. Bullish engulfing) and better pattern set up.
2) Risk seeker may also building up their position around support level for better returns.
Entry:RM0.39
TP: RM0.445
Cut-loss: RM0.36
Comment:
Price BreakOut RM0.40 expected to happen next week, watch closely
Banker may collected enough of chips and ready to push.
Market sentiment getting better from today.
Hopefully market sentiment keep going on tomorrow.
Watch closely for entry. Once Break RM0.40 considered risky.
*Buy at your own risk*