Xingquan’s consolidation may be over if it can close above the three-month high of RM0.92. A position can be initiated if this happens, with a close below the one-month low of RM0.87 employed as a stop-loss. The price target is RM1.20, provided that 2011’s intraday high of RM1.05 is violated. Failure to break resistance could lead the stock lower, with a close below RM0.83 as confirmation. Support lies at RM0.75.
Source: OSK
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