From CIMB Trendspot:
Prices have been consolidating in a pennant pattern after hitting the
high of RM0.45. The pattern usually breakouts in a same direction of its previous trend, which was an uptrend.
Both MACD and RSI seem to be turning up again after consolidating for the past few weeks or so.
Traders may choose to buy here in anticipation of the potential breakout. Taking out the overhead resistance bands of RM0.42-0.45 would drive prices higher to hit its breakout target of RM0.485 next. Keep a stop at RM0.37.