Considering that Ariantec has just broken the 200-day MAV line, the price is currently situated not too far above the moving average line and it has already retraced about 50% of the RM0.04-RM0.065 sharp gains, we think traders could take the opportunity to accumulate shares during the consolidation phase at above the RM0.05 level. We are betting on a breakout from the RM0.065 level, which could put the stock back on an upward trajectory.
We are eyeing the RM0.065 level as the first upside target. The second upside target is pegged at the RM0.08 level. We advise traders to cut loss if the share price closes below the RM0.05 level. Hence, both our upside targets of RM0.065 and RM0.08 are the upside hurdles. To the downside, initial support is seen at the RM0.05 level, followed by the stronger 200-day MAV line which now lies at the RM0.04 level.
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