Sumber grafik:Affinhwang Capital
PETRONM: NEW BASE ESTABLISHED, GREAT OPPORTUNITY TO ACCUMULATE PETRON FOR MEDIUM AND LONG-TERM INVESTMENT- ACCUMULATE!
1. Key direction: Uptrend intact. PETRONM stock price anticipated to congest sideways with strong upward biases in the near future;
2. Macd indicator signals that recent consolidation has successfully completed and a new base for the stock is presently established around RM7.00-RM8.00 level;
3. Rsi has gradually increased indicating sentiments has changed for the stock from bearish to bullish after recent correction;
4. Momentum still weak, hovering near the lower range of oversold territory nonetheless the Stochastic managed to hook up and drift higher slowly but surely;
5. Technical indicators show that PETRON has found its new bottom and that the downside is presently limited thus offers a great opportunity for short and long-term investors to accumulate the stock near its base;
6. Immediate Target price is calculated at RM13.90 while the ultimate target for the next wave could potentially reach as high as RM20.00 – Accumulate!
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