PANTECH’s technical picture has turned positive after the share price formed a long white body candlestick and also crossed above two key resistance level (Fibonacci & 100-day SMA) yesterday. In fact, key indicators such as Stochastics, RSI, and CCI are slowly gaining traction and curving upwards. Should the crucial overhead psychological resistance @RM1.00 is being taken out in a decisive manner, we reckon the share price could potentially advance further towards RM1.15. Meanwhile, the immediate support is pegged at RM0.935 (100-day SMA).

 

Source: Kenanga