On the daily chart, the stock still in uptrend as the price traded above the uptrend line. However, yesterday price plunged to the lowest of RM 0.73 indicates traders having a profit taking session after it climbed since 26/4/2018. Today, on the first 2 hours morning sessions, the stock price stand in a range of 50%-61.8% Fibonacci level and Psychology support level at RM 0.70. Rebound at 50%-61.8% Fib level or at RM 0.70 will trigger the uptrend and we expect the first target will be at the high of the red candle (2/5/20180) @ RM 0.79.
Disclaimer: This is for Technical Analysis study purposes.
Disclaimer: This is for Technical Analysis study purposes.