Possible for chart pattern breakout. BIG is potentially staging a breakout from its pennant chart pattern, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.700 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.740.
However, failure to hold on to support level of RM0.650 may indicate weakness in the share price and hence, a cut-loss signal.
Source: PublicInvest Research - 5 Jul 2023
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Created by PublicInvest | May 03, 2024