Possible for trend reversal. AGMO is potentially staging a reversal in trend amid formation of bullish hammer candlestick, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.555 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.595.
However, failure to hold on to support level of RM0.505 may indicate weakness in the share price and hence, a cut-loss signal.
Source: PublicInvest Research - 26 Jan 2024
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