Yesterday, its share price once showed some signs of life by rising 7 sen (+7.3%) to RM1.03. Trading volume also increased while the Stochastic and RSI indicators rebounded from oversold levels. This signals renewed buying interest and based on the "Falling Wedge" pattern, we reckon that yesterday's bullish move could, in fact, be the start of yet another rally to a new high. We expect FCW to gradually make its way up to RM1.58 (measurement objective) and suggest traders aim to take profit 3 bids below this level. Meanwhile, the downside appears limited, though a stop-loss should be placed at RM0.90 (3 bids below recent low), just in case.

 

Source: Kenanga