Velesto Energy was testing the RM0.225 level in its latest session. With a healthy RSI level, it may move higher above this point with a target price of RM0.265. Meanwhile, it may continue trending sideways if it fails to break the RM0.225 mark in the near term. In this case, support is anticipated at RM0.205, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy on further rebound above RM0.225
Target: RM0.265 (time frame: 3-6 weeks)
Exit: RM0.205
Source: AmInvest Research - 15 Feb 2019
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Created by AmInvest | Nov 25, 2024