Chart wise : Selling pressure…….
GPacket had on 4/5/2010 traded higher to a day high of RM1.09 before settled at day low RM0.96.
Price Direction …..
In view of an increase in market participation, the stock could be expected to trade sideways in coming day(s) with an overhead resistance pegged at RM1.10.
What to watch for ….
A turnaround of prices to close above RM1.10 level would likely see an immediate short term reversing direction in the stock.
above: Gpacket Daily chart (click to enlarge)
by: Mercury Securities
