• Target Price: RM0.760, RM0.820
• Last closing price: RM0.710
• Potential return: 7.0%, 15.4%
• Support: RM0.700
• Stop Loss: RM0.640

Possible for recovery. Without creating new low, GPACKET is attempting to recover from its prior downtrend. Corresponding RSI and MACD indicators remain healthy while trending sideways, with anticipation of continuous improvement in both momentum and trend in the near term. Should resistance level of RM0.735 be genuinely broken with renewed buying interest, it may continue to lift price higher to subsequent resistance levels of RM0.760 and RM0.820.

However, failure to hold on to support level of RM0.700 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 18 Jun 2020