ARB BERHAD – Consolidation Pattern Spotted

The panic selling triggered from the rights issue seems to have faded, and the share price for ARB was also unfazed by the recent tech sell off. This indicates an end of selling pressure on the share and they had now entered into a consolidation phase. While we are waiting for a confirmation signal for breakout on RM0.150 level, investors could first have their eyes on the share first.

Pending Breakout: RM0.150

TP: RM0.200

CL: RM0.130