SPSETIA's share price has been battered over the past two
years despite achieving record-breaking sales in FY12. The share price is now
hovering close to the RM2.97 long term support and has tested this level on several
occasions this month. Yesterday, the share
price rose 2 sen to close at RM3.05 and with the Stochastic and RSI
indicators emerging from the oversold regions, we do not rule out the
resurgence of a fresh bargain hunting bout at these levels. Trading volumes
have also picked up and we hence reckon the stock could see a short term
rebound. Risk takers who are looking to ride an "Oversold Rebound"
towards the RM3.34 and RM3.47 resistance levels may nibble now although we recommend a tight stop-loss at
RM2.94 should the technical picture turn sour.
Source: Kenanga
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