GBGAQRS's share price performance has been lacklustre ever since it got listed in September 2012. However, it wasn't until the past month that the share price really took a beating. Within a 4-week period, the share price lost as much as 27% to last week's intraday low of 86.5 sen. Looking at the chart, the recent sell-down appears grossly overdone. In fact, we are beginning to see some bright spots emerge, and this follows the "Morning Doji Star" bullish reversal pattern, which has been confirmed on the daily chart. The 14-day Stochastic and RSI indicators have also hooked upwards to signal a pick-up in bargain hunting activities, and we reckon that the share price could potentially rebound towards the 94 sen and 99 sen Fibonacci Retracement levels.

 

Source: Kenanga