Possible for sideways breakout. EDARAN is potentially staging a breakout from sideways channel. Should immediate resistance level of RM0.675 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance levels of RM0.700 and RM0.735.
However, failure to hold on to support level of RM0.620 may indicate weakness in the share price and hence, a cut-loss signal.
Source: PublicInvest Research - 31 May 2022
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