• EFRAME dropped 2.0% or 1 sen to RM0.48 yesterday.
• EFRAME has been trading downward since touching an all-time high of RM0.695 in early March 2021. However, yesterday’s price action may suggest the selling is overdone as share price formed a hammer pattern – implying possible trend reversal and key technical indicators are signalling oversold signals as well.
• From here, resistance levels are expected at RM0.51 (R1) and further to RM0.56 (R2).
• On the downside, support levels are set at RM0.46 (S1) and RM0.43 (S2).
Source: Rakuten Research - 1 Apr 2021
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Created by rakutentrade | Nov 22, 2024