PANTECH’s short-term technical picture is treading on thin ice after the share price broke below 20-day SMA and the uptrend support level. In fact, PANTECH is close to breaking the key psychological support @RM1.00.  Similarly, key indicators are also depicting a bearish picture without any major  upside reversal thus far. As a result, we reckon the share price may head down to look for a stronger support @RM1.00 soon. Should that support fail to hold, the share price could go down further to RM0.95 and RM0.90 next (Fibonacci Retracement), which could serve as buying opportunities.

Source: Kenanga