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Support Level: RM0.695, RM0.665
Resistance Level: RM0.80, RM0.85, RM0.90, RM1.00
Entry Level: RM0.755

Share Analysis
Ichimoku chart above is a daily spanning back to March 2014 and thus can be used to assess the midterm trend. This chart revealed that the midterm uptrend is intact because the share price has been trading above the midterm uptrend line. Buying signal is given as the price is currently trading above the cloud. This is supported by the Heat Wave indicators; Tenkan-sen line, Kinjun-sen line and the Chikao span line that shows the bullish signal. At this point, the bullish pattern is also confirmed by ADX and MACD.

Since the short term trend is bullish, day traders with shorter time frame perspective may ride on the short term bullishness and buy on breakout level (RM0.755). Those with lower risk appetite should wait at the side-line and buy on the dip.

Price Objective

Short Term – target price at (RM0.795, RM0.845), stop loss (RM0.69)
Mid Term – target price at (RM0.895, RM0.995), stop loss (RM0.66)

Support Level: RM0.535, RM0.50
Resistance Level: RM0.66, RM0.73, RM0.80, RM0.87
Entry Level: RM0.59
Share Analysis
Based on the daily chart, the price has been trading above midterm uptrend line and revealed that midterm uptrend pattern is intact. The Heat Wave indicators; Tenkan-sen line, Kinjun-sen line and the Chikao span line show the bullish signal. A buy signal is given with Positive Directional Index (+DI) crossed above Negative Directional Index (-DI). The ADX line shows the positive uptrend side at this level. This bullish signal is also supported by MACD those currently above 0 level. The bulls need a sustained violation of RM0.585 (last significant resistance level) to propel to a new high. Failure to surpass RM0.585 runs the risk of developing a pull back to support level (RM0.535).
Since the short term trend is bullish, day traders with shorter time frame perspective may ride on the short term bullishness and buy on breakout level (RM0.59) with confirmation rising in trading volume. Those with lower risk appetite should wait at the side-line and buy on the dip.
Price Objective
Short Term – target price at (RM0.655, RM0.725), stop loss (RM0.53)
Mid Term – target price at (RM0.795, RM0.865), stop loss (RM0.495)

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