The stock is trying to recover after a downtrendBollinger Bands :
The price is currently near the upper Bollinger Band, which suggests a bullish sentiment.
Trend and Momentum :
The current upward movement might face resistance at RM0.60, which could act as a psychological or technical level for traders.
Support and Resistance :
Support: Around RM0.55 and RM0.50 appear to be strong support levels. Price bounced off from this area multiple times.
Resistance: The RM0.60 level is a significant resistance, as it has capped the price recently. A clean break above this level could lead to further upside, possibly testing RM0.64 (where there was a high in early July).
Outlook :
Bullish case: A close above RM0.60 with strong volume might push the stock toward the upper resistance levels at RM0.64 and higher.
Bearish case: A failure to break above RM0.60 could lead to a pullback toward the midline of the Bollinger Band (around RM0.58) or even lower.
Overall, the current chart is indicating a potential breakout attempt, but confirmation with volume and a sustained move above RM0.60 will be key to continuing the uptrend.
