Technical indicators are encouraging with the MACD rising above its signal line and the RSI climbing towards the overbought zone.
After yesterday’s surge, the stock could pull back but has a chance to extend its rebound if share price sustains above RM0.99 where the 50-day moving average (blue line) stands. For the downside, we advise traders to cut loss if the price falls below the immediate support of RM0.93 marked by the 38.2% Fibonacci retracement level.