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Wednesday, December 28, 2011

Constructing a New Floor with High Volume (OSK)

R&A has started building a new support floor at the RM0.115 level since September this year. More noticeably of late is that the stock’s trading volume has been particularly high at around the RM0.115 level throughout December, which could be the signal of an impending rebound. There is a possibility that the price consolidation could come to an end soon and therefore, we suggest traders should start accumulating its shares at the current level. The upside target is pegged at the RM0.155 level, while the cut-loss point is envisaged at below the crucial RM0.115 level.

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