Metronic may rebound after the firm close on higher volume yesterday. A purchase can be made on a close above yesterday’s high of RM0.14, with a close below yesterday’s low of RM0.12 as stop-loss. The price targets are the Fibonacci levels of the recent decline at RM0.19 and RM0.21. Failure to close higher will likely cancel the upward bias, after which the stock may trade lower. Supports can be seen at RM0.11 and RM0.85.
Source: OSK
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