Hengyuan, stock is bullish with good uptrend movement since beginning of November with impulse 5 waves up movement. However, the stock took a pause for consolidation since 2 weeks ago. Refer to the chart, there is possibility the stock ends its correction with its ABC waves movement when hit RM4.8 on December 22nd and this price level likely is the pivot point of resuming uptrend.
This analysis will be invalid is price broken below RM4.8. And if happened, will expect more complex correction before resuming uptrend movement.