Refer to previous Ekovest post. (Click here)
After the rally in April, the stock was traded above RM0.79. The green hammer on 22 April shows the traders rushed in to buy the stock. On 25 April, the upthrust with high volume indicated strong selling at the price of RM0.95. I have warned retailers not to rush in to buy this stock on 24 April, perhaps I should reiterate again on 25 April. The study of technical analysis is vital especially during this type of trade. Don’t rush in to buy the news.
Presently the RM0.79 support has broken. I reckon the price might continue to trade below RM0.79 and decrease further if the volume is low. (Click here for full image)