"TECHNICAL MOVEMENT FOR ARB BERHAD (7181)"

Previously, I had shared the fundamental prospects for this company. A few people actually approached me to ask about the strategies to go short-term trading on this company. In all honesty, this is not a short-term trading counter. But since there's demand for it. I'm glad to share it with you.

 

 

Based on my observation, the company's stock price "looks" like it is on a downtrend pattern alongside with other small cap companies. However, if you had been monitoring the company closely, since the selldown on 09/9/2020 there has been good support in terms of stock price, leaving a long shadow on closing that day, and eded with the first Higher Low.

 

The dropping in terms of stock price did not follow by a high volume, it wouldn't surprise me if someone is trying to depress the price and collect more. On 18/9/2020, the company closed with a doji, which is an indicator for trend reversion. Should ARBB share price increase tomorrow alongside with volume, I believe a new trend would be formed.

 

In terms of trend analysis, the company share price had seen a triangle consolidation pattern. In the shorter term, if the market had not decided which direction to go, it might consolidate in the region.  However, coupled with long term prospects of this company, it would be an opportunity to collect more should the support broken and fall to the key support level of RM 0.250.

https://klse.i3investor.com/blogs/gmarb/2020-09-21-story-h1514212044-TECHNICAL_MOVEMENT_FOR_ARB_BERHAD_7181.jsp