Trend Chart Technical Buy On Ogawa World?

A correction may be necessary to digest the recent gains, but it is expected to be mild that should be viewed as buying opportunities

 Ogawa World Bhd (5128) Trading/Services – RM0.705
below: Daily Chart (click to enlarge):Ogawa was a trading buy when it was trading around the RM0.65 range based on its bullish technical outlook as well as strong fundamentals as a growth stock. In recent days, it had trended up further and tested the upper limits of its mini up-trending channel.

A correction may be necessary to digest the recent  gains, but it is expected to be mild that should be viewed as buying opportunities. We are raising its technical support to RM0.65 based on its new formation and reiterate our trading buy call.

by Mercury Securities