Yesterday, Privasia attempted to push itself out of the recent RM0.08-RM0.10 consolidation range. The stock had been stuck within this zone after recording strong gains on 6 Dec 2011. Yesterday, it finally broke above the RM0.10 level, although marginally, closing at RM0.115. Traders may consider accumulating the shares at above the RM0.10 level and bet on follow-through buying. This is because the stock has set a new floor at the RM0.05 level and also established a new uptrend. We are eyeing the RM0.12 and RM0.14 levels as the upside targets while the cut-loss point is pegged at below the RM0.10 level.
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