In February, a tussle at Bright Packaging Industries (“BRIGHT”) had resulted in 4 directors being ousted from the board. Since then, the share price had entered a downward spiral which wiped off more than half of the company’s market value in barely two months. Nevertheless, we believe that the recent tumble may have been overdone from a technical perspective. In fact, the share price appears to have found a bottom at the RM1.03 trend line support, and this comes in tandem with the “Bullish Engulfing” reversal pattern, which has just taken shape on the daily chart. The key indicators are also heavily oversold, and we reckon the share price is poised for a rebound. As such, traders who are looking to buy into the stock may target RM1.27, while a stop-loss of RM0.98 should also be employed.