Permaju may rebound after forming a white candle just above the 100-day MAV line last Friday. A purchase can be made on a close above the psychological RM0.50, with a close below the recent low of RM0.46 as stop-loss. The price targets are the Fibonacci levels of the recent decline at RM0.60 and RM0.70. Failure to close above RM0.50 should see continued selling, with further support at RM0.40.
Source: OSK
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