Perdana’s rebound may continue after yesterday’s firmer movement. A purchase can be made above last week’s high of RM0.645, while a close below the recent low of RM0.615 can be employed as a stop-loss. A conservative trade may wait until RM0.66 is broken before entering. The price target is RM0.81, with selling also anticipated at RM0.74. Failure to break higher could see a return of selling, with a close below RM0.615 as confirmation. Supports are at RM0.55 and RM0.50.
Source: OSK
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