Deleum’s rebound should continue after it closed at a four-year high. A purchase can be made above the May high of RM1.83 with a close below yesterday’s low of RM1.77 taken as a stop-loss. However, a conservative trade may opt for Monday’s gap of RM1.63 as a stop-loss instead. The price target is RM2.20, provided that the psychological RM2.00 is violated. The trade may not be effective should the stop-loss be triggered. Strong support is at RM1.55.
Source: OSK
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