Perisai's appears to have found support and  may resume its upward movement. The stock was highlighted in late Februaryfor its likelihood of topping after the failed test of  the psychological RM1.00. Our view turned out to be correct as the stocksold off and as expected, it found support at RM0.80 ' a confluence ofFibonacci levels based on the rally since the September low.  The level was just above the rising 100-dayMAV line too. The 'Long White' candle formed yesterday confirmed the new higherlow. This should lead to the next leg of the  upward move and purchase canbe made, if possible, on pullback toward the stop-loss level of RM0.80. Theprice target is obviously the psychological RM1.00, provided that the RM0.90resistance level is violated. A measured move based on the Dec-Feb rally couldeven see  the stock at RM1.20. However,look for the correction to continue should the stop loss be triggered. Expectstrong support at RM0.74, a prior resistance level that was violated in Janthis year.

Voir's share price should trade higher if it holds above thebroken resistance level. There is no doubt that this stock was trending lower.The downward move  led  to illiquid trading conditions, illustratingthe lack of market interest.  However,this may change after the strong close yesterday, where it climbed more than20%  on a 'Long White' candle. Itrecorded the highest volume in more than 2 years, which suggests firm buyinginterest. The highest close in more than a year also highlights the buying strength. As such, purchases can be madeat  the current level, or if possible on pullback towards the stop loss, inanticipation of higher prices. Given the strong move yesterday, a tighterstop  loss is advisable and the early2010-low of RM0.60 can be employed as the stop loss. The price target is thelate 2010-high of RM0.73 and a strong move may even see the test of  the 2010-high of RM0.80.  The upwardbias is likely to be nullified if the stop loss is triggered and a close belowyesterday's low of RM0.56 may signal the failure of the upward continuation.Expect strong support at RM0.50.

Source: OSK188