Yesterday, NOTION gained 8.5 sen (+12.88%) to close at RM0.745.
Technical-wise, the share has been on a rally after it broke out of a descending wedge since mid-July. Yesterday’s candlestick broke above its previous swing high of RM0.700 accompanied by exceptional trading volume, which could indicate a continuation of the rally.
Key momentum indicators continue to show positive signals and key SMAs are in a “Golden Cross” state which further suggests a continuation of NOTION’s rally.
From here, expect NOTION to retest its resistance of RM0.800 (R1) and further to RM0.930 (R2) should the first resistance level be taken out.
Conversely, downside bias should see support at RM0.695 (S1) and RM0.650 (S2).
VIS (Not Rated)
VIS gained 3.5 sen (+5.26%) yesterday to close at RM0.700.
From charting perspective, the share had bottomed-out in early April, and has since been trending upwards.
Gradual shifts in sentiments are reflected on increased trading volume for the past months, with the share leading key SMAs upwards, which currently are in a “Golden Crossover” state.
The share is in the midst of retesting the RM0.705 (R1) resistance. Should this level be taken out, further gains would then be expected towards RM0.820 (R2).
Downside support levels are likely to be present at RM0.638 (S1) and RM0.600 (S2) further down.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....