The stock may recover after last Friday’s “Long White Day” on high volume. A purchase can be made on a close above the candle high of RM0.80, with a close below the recent low of RM0.74 as stop-loss. An aggressive trader may even exit on a close below RM0.80. The price target is the Fibonacci level of the recent decline, which coincides with the prior lows at RM0.88 and RM0.915. Failure to break RM0.80 may induce selling while a close below RM0.74 could see the stock drop to as low as RM0.60.
Source: OSK
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