Strategic Angle

IQZAN (7183) - Ready to Fly?

marketsniper
Publish date: Mon, 03 Aug 2020, 07:23 AM
Looking at different angles altogether

Overall market performance was not good on 30th July 2020.

Based on RSI for FBMKLCI, the market is still in the bullish zone.

IQZAN price support for the past 6 trading days is at RM 0.12. Everyone is waiting for a major announcement that should be out anytime now.

The news of the potential major announcement has been circulating for quite sometime now. The candlestick on 21st July proves that it is coming. A sudden increase in price and volume on the 21st July.

I strongly believe that IQZAN will be testing RM 0.17 today or latest tomorrow. After that, RM 0.20 should be the next target.

STRONG INDICATION: TP1 should be RM 0.20; and TP2 should be RM 0.25 within a very short period of time

Disclaimer : The above opinion is never intended to be a BUY CALL whatsoever. I am sharing my observations ONLY based on fundamental; past history; current trading pattern; charts etc. Please make your own informed decision before buying this share or whatever share for that matter.

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