Hubline’s volume rebounded sharply yesterday after consolidating at above the recent major low of RM0.08, which is also its historic low, for about two weeks. This technical development could be perceived as an early sign of a “Double Bottom” being constructed at above the meaningful low. Hence, traders could consider accumulating the shares at the current level, especially when the stock is trading just above our cut-loss level of RM0.08. If a subsequent rebound does materialize, then its share price should be able to test the 200-day MAV line which now lies at the RM0.11 level.
No comments:
Post a Comment