Share Analysis
Longterm uptrend line that has been established since Sept
2011 is still intact and even the stiffer uptrend line is still intact. PERISAI
is currently in a healthy correction as it
did not broke the Fibonacci 61.8%
line. A beginning of downtrend is expected as MACD lines has crossed 0 line but
I opine that technical rebound is about to happen. It backed by RSI is pointing
up in oversold territory and Bollinger band is over extended. If the rebound
failed to break above the confluence of resistance it indicates that a short term
downtrend begins.
Trading advice
Buy on dip strategy is recommended for aggressive traders
with a tight stop loss and ride the technical rebound with confluence of resistance
as a target. If the price failed to break above the strong resistance line
further correction is imminent.
Price Projection
Short term -
upside target RM 1.56
-
stop loss RM1.43 (One bit below Fibo 50%)
Medium term - upside
target RM 1.70
-
stop loss RM 1.38
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