The skyrocketing prices of penny stocks fascinated many traders recently. Besides LBS, Ouhua is another penny stock which has some upside potential in our opinion, despite its flat closing last Wednesday that saw the trading volume surging to the highest level. In fact, Ouhua’s technical landscape has already started to shift from downtrend to uptrend since October. It is now actually consolidating the October rebound and we think the latest consolidation phase provides an opportunity to accumulate Ouhua shares. Traders can consider accumulating the shares between the RM0.28 level and RM0.345 level. A break above the RM0.28 level could see the stock extending its rebound. We are eyeing the 200-day MAV line as the upside target. The cut-loss point is pegged at below the RM0.28 level.
No comments:
Post a Comment