Reversal trend in place
The counter has suffered a setback with closing price of 4% lower than highest price acheived on that day.
However it seems that buying interest quickly recovered may be due to technical rebound the day after. Today, the buying interest seems to continue and is indicated by the MACD line. If price maintains above RM1.00 and buying volume incoming, we may predict the price to reach at least RM 1.02 / RM1.04.
I would predict the price to move around RM0.980 to RM1.040 before setting up the true trend of upwards or downwards.
However it seems that buying interest quickly recovered may be due to technical rebound the day after. Today, the buying interest seems to continue and is indicated by the MACD line. If price maintains above RM1.00 and buying volume incoming, we may predict the price to reach at least RM 1.02 / RM1.04.
I would predict the price to move around RM0.980 to RM1.040 before setting up the true trend of upwards or downwards.
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