SENDAI (5205) - SENDAI: Why you can expect this counter will further rally tomorrow

Sendai has just staged a strong rebound from a series of sell downs. This is likely to continue rally in view of the below reasons:

    The blue line just crosses the red at a stochastics oversold area

    The fibo retracement is around 61.8% which is a golden percentage for a rebound rally

    It is breaking out of a descending channel with high buy volume

    The candlestick formed today is bullish engulfing, suggesting strong buyers have returned

Expect this rebound rally to challenge its old high of RM1.39 very soon.