Friday 29 Mar 2024
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KUALA LUMPUR (June 22): PublicInvest Research said GSB Group Bhd has had a good run.

In a trading ideas note today, the research house however said the price movement is currently showing sign of being overbought and a cool down might be needed.

“Yesterday, relative strength index readings displayed a high of 70.8 and the doji candlestick formation signified indecision between bull and bear.

“Hence, position is recommended to be sold in order to lock in the profit. Should support level of 22 sen be broken, it may continue to drive price lower to subsequent support level of 20 sen.

“Note that the potential halt in uptrend presents an opportunity for profit taking instead of intraday short selling,” it said.

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