Possible for sideways breakout. NGGB is potentially staging a breakout from its sideways channel, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.955 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM1.00.
However, failure to hold on to support level of RM0.885 may indicate weakness in the share price and hence, a cut-loss signal.
Source: PublicInvest Research - 24 May 2022
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NGGBCreated by PublicInvest | Sep 20, 2024