Goldenpointer, Parkson is extremely oversold at RM 2.35 now. Based on TA, should the selling pressure pause at the FIBO level at RM 2.27 (which is quite near the AMMB TP of 2.20) and price moves sideway; expect a technical rebound to RM 2.60 - Rm 2.65. Note: A dead cat bounce is an opportunity to sell on strength because after it's done, the downside prevails.
Stock: [PARKSON]: PARKSON HOLDINGS BHD
2014-06-10 14:54 | Report Abuse
Goldenpointer, Parkson is extremely oversold at RM 2.35 now. Based on TA, should the selling pressure pause at the FIBO level at RM 2.27 (which is quite near the AMMB TP of 2.20) and price moves sideway; expect a technical rebound to RM 2.60 - Rm 2.65. Note: A dead cat bounce is an opportunity to sell on strength because after it's done, the downside prevails.