Yesterday, DELEUM gained 5.0 sen (+2.33%) to settle at RM2.20 with an uptick in trading volume seen. Recent share price weakness has caused its share price to approach its strong support at RM2.16 (S1), indicating a potential positive reversal from that level as share price has rebounded several times from this level in the past few months. In addition to that, Stochastic and RSI indicators have also rebounded upwards indicating revival of possible buying interest in the stock. Should buying interest be sustained, it could retest the RM2.33 (R1) level fairly soon with RM2.48 (R2) possibly next.

 

 

Source: Kenanga