• Target Price: RM0.220, RM0.235
• Last closing price: RM0.205
• Potential return: 7.3%, 14.6%
• Support: RM0.200
• Stop Loss: RM0.190

Possibility for bottom fishing. Without creating new lower-low, recent downtrend has been halted and BIOHLDG’s share price is now supported above RM0.195. It can be clearly seen that from weekly point of view, BIOHLDG is massively oversold while MACD is still far from formation of bullish golden crossover following 5-month downtrend prior to current possible reversal. Should RM0.210 resistance level be broken, it may continue to lift price higher to the next resistance level of RM0.220 and RM0.235, eventually.

However, failure to hold at support level of RM0.200 may indicate weakness in the share price and hence, trigger a cut-loss signal.

Source: PublicInvest Research - 28 Dec 2016