Gadang has retraced towards the oversold level after it failed to close above the 21-day SMA line. Notice that the trading volume increased during the recent session – we think it may see a technical rebound if it can test the MYR0.385 resistance level. If this happens, it may rebound to the next resistance mark – MYR0.40 – and followed by MYR0.42. A downside breach of the MYR0.36 support level should nullify this expectation and see a further share price correction.

Source: RHB Securities Research - 4 Nov 2020