Resintech opened with a gap above our target level at 0.645, which likely to be an exhaustion gap as the overbought alert is seen on daily RSI. The price however, failed to close above Fibonacci barrier at 0.825. Be cautious as the price is likely to pull back from resistance level. New support level is seen at 0.645.
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@biglobang, Perhaps. Technically it can be traded (at that point of time in May) as price structure for this stock is uptrend - the HH and HL structure indicating that the prevailing uptrend from 2020 is still intact. Theoretically, the price will drop after a certain overbought level (this can be observed from oscillator, resistance level and gap - we noticed overbought alert is seen on daily RSI and Stochastic after an exhaustion gap early this month). The buying decision is depending on your strategy - investing or trading. Nevertheless, the price is still undervalued with healthy ROE and PER.
jeetyuan72148
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these goreng stocks always cheer market trader..... >;<