LEEKS

On the daily chart, the stock still in uptrend as the price traded above the uptrend line. However, yesterday price plunged to the lowest of RM 0.73 indicates traders having a profit taking session after it climbed since 26/4/2018. Today, on the first 2 hours morning sessions, the stock price stand in a range of 50%-61.8% Fibonacci level and Psychology support level at RM 0.70. Rebound at 50%-61.8% Fib level or at RM 0.70 will trigger the uptrend and we expect the first target will be at the high of the red candle (2/5/20180) @ RM 0.79.

Disclaimer: This is for Technical Analysis study purposes.