Possible for trend reversal. NWP is potentially staging a breakaway from its current downtrend, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.215 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.230.
However, failure to hold on to support level of RM0.190 may indicate weakness in the share price and hence, a cut-loss signal.
Source: PublicInvest Research - 9 May 2023
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Created by PublicInvest | Apr 26, 2024