Chart wise: Ramunia Holding stock code 7296 Trading/Services – RM0.40.
Ramunia’s candle made a strong breakout of its long-term downtrend line as well. The strong runup also allowed the candle to breach its congestion band at around the RM0.32 level. Its indicators are also on the rise, suggesting further upsides, but yesterday’s surge may prompt a consolidation.
above: Ramnunia Daily Chart
Therefore, the stock is also worth a buy if it takes out the RM0.41 in the near term, otherwise it would be wise to wait for the consolidation to take its course first. There is support at RM0.35 with the strong support at RM0.32. The resistance, meanwhile, is at RM0.44
