Yesterday, GHLSYS rose 1 sen (+1.31%) to close at RM0.775. Despite the low trading volume, we reckon that GHLSYS’ technical chart looks “interesting” as it is now trading near the multi-month support level at RM0.77. Chart-wise, GHLSYS formed a “Spinning Top” candlestick which suggests that the stock is currently at an inflection point. Meanwhile, the Stochastic indicator is starting to show signs of improvement in momentum. Based on the positive technical outlook, we think that GHLSYS would be an interesting “Rebound Play” and the current share price would be good entry level for traders who look to buy into the stock.

 

Source: Kenanga