KUALA LUMPUR (Dec 28): OSK Retail Research has an upside target for R&A Telecommunication Group Bhd at the 15.5 sen level, while the cut-loss point is below the crucial 11.5 sen level.
It said on Wednesday that R&A had started building a new support floor at the 11.5 sen level since September this year.
“More noticeably of late is that the stock’s trading volume has been particularly high at around the 11.5 sen level throughout December, which could be the signal of an impending rebound.
“There is a possibility that the price consolidation could come to an end soon and therefore, we suggest traders should start accumulating its shares at the current level,” it said.
It said on Wednesday that R&A had started building a new support floor at the 11.5 sen level since September this year.
“More noticeably of late is that the stock’s trading volume has been particularly high at around the 11.5 sen level throughout December, which could be the signal of an impending rebound.
“There is a possibility that the price consolidation could come to an end soon and therefore, we suggest traders should start accumulating its shares at the current level,” it said.
