The StemLife rally should continue after printing another 52-week high yesterday. A position can be initiated above the prior high of RM0.44, with a close below the 3-day low of RM0.425 as stop-loss. The price target is RM0.54, provided that the psychological RM0.50 is violated. However, correction may ensue should the stop-loss be triggered. Supports are expected at the Fibonacci retracements of the 9-month rally at RM0.37 and RM0.34.
Source: OSK
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