Fitters’ correction, which has lasted over a year, may be over after it closed at its highest in over a month yesterday. A purchase can be made above RM0.73 or otherwise above RM0.75, with a stop-loss on a close below the recent low of RM0.69. The price target is the Fibonacci level of 2011-2012’s decline at RM0.905 and RM0.96. Failure to break RM0.75 could see a continuation of the correction, confirmed by a close below RM0.69.
Source: OSK
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