Is this consolidation a good sign for ARBB (KLSE: 7181) rights issue?

A panic-driven sell down had occurred in January, which was believed to be triggered by rights issuance by the company. To date, it seems like the dusts had settled, and $ARBB is moving into a consolidation phase now. We believe this is a positive note on the share price movement as tech peers are facing selloff in the same period, while $ARBB is still standing on its ground. Our short-term TP for the company remains at RM0.200 at this juncture.

Support Level: RM0.140 / RM0.130

TP: RM0.200