The continuation of Malton’s rebound may likely happen after the stock produced a white candle yesterday. A position can be initiated above the prior two-day high of RM0.54, with a close below last week’s low of RM0.525 as a stop-loss. Conservative trade may hold until a close above RM0.58 occurs. The price target is RM0.635, with selling also expected at RM0.615. The upside bias is nullified if the stop-loss is triggered and strong support is at the recent low of RM0.48.
Source: OSK
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