KUALA LUMPUR (Dec 16): OSK Research said since August this year, Astral Supreme has been sustaining its posture at above the prior key low of 14 sen with heavy volume.
It said on Friday the volume has seen an increasing trend, which could be a sign of share accumulation at the bottom.
“Traders could consider accumulating the shares at the current level or closer to the 14 sen level.
“A break above the 100-week MAV line is expected to draw stronger upward momentum, which could potentially carry the stock to the next major resistance of the 200-week MAV line. Our cut-loss point is pegged at below the key low of 14 sen,” it said.
It said on Friday the volume has seen an increasing trend, which could be a sign of share accumulation at the bottom.
“Traders could consider accumulating the shares at the current level or closer to the 14 sen level.
“A break above the 100-week MAV line is expected to draw stronger upward momentum, which could potentially carry the stock to the next major resistance of the 200-week MAV line. Our cut-loss point is pegged at below the key low of 14 sen,” it said.
