PIE climbed 6.0 sen (+4.32%) to end at RM1.45 last night, backed by strong trading volume.
More notably, yesterday’s candlestick saw the share closed above both its 20 and 100-day SMAs.
Momentum indicators are also showing meaningful upticks, possibly indicating that the share is bottoming-out from its shortterm downtrend.
A possible short-term rally towards RM1.53 (R1) may be seen while a break above R1 will suggest a further test of the next resistance level at RM1.70 (R2).
Conversely, downside supports can be identified at RM1.35 (S1) and RM1.20 (S2)
WCT (Not Rated)
WCT gained 7.0 sen (+8.14%) to close at RM0.930 following an announcement that the company had accepted a letter of award.
Chart-wise, the share had been moving downwards since mid of July 2018, as shown by the string of black-bodied candlesticks formed.
However, yesterday’s move saw the share broke above key SMAs as it gapped up upon its opening bell, possibly indicating a change in sentiment towards the stock.
Expect continuous buying momentum from here that may see it rally towards RM 1.00 (R1) and possibly RM1.20 (R2).
Conversely, retracement towards RM0.800 (S1) and RM0.700 (S2) would serve as a good entry point for interested
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MQ Trader 7236 views | 6 d ago
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New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....