Sector: Consumer Products / Recovery

Analysed on 29/08/21

OWG has been performing well since the early of August, being the sign of optimism with the economy recovery in our country due to the high vaccination rate reported in recent months. OWG is currently trading at RM0.495, with immediate support at RM0.485 and immediate resistance at RM0.520. OWG is on an uptrend with both EMA25 and EMA50 trending upwards. Furthermore, there is also formation of higher lows and higher highs pattern, which confirm that OWG is on an uptrend rally. The uptrend is valid as long as OWG continue to stay above RM0.485.

Note that OWG has reported 5 consecutive QR losses since early of 2020 as their company operation has been badly affected by the outbreak of COVID-19. Therefore, investor who is interested in this company should always trade with caution.

Reason to Monitor: Recovery Stock

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