VIVOCOM - Ready for a V-shaped rebound
Last Friday, VIVOCOM (0069) released an announcement during market hours. https://malaysiastock.biz/Company-Announcement.aspx?id=1294394
In the announcement, Bursa has approved of VIVOCOM (0069)’s proposal of Acquisition, Subscription and Constitute Amendments. What we understand from this is that VIVOCOM (0069) has been given the green light for asset injection(acquisition) via subscription of shares. This will ultimately boosts VIVOCOM(0069)’s fundamentals after the asset injection.
Also, with this acquisition, VIVOCOM (0069) might experience a game changer.
Technical Analysis:
VIVOCOM (0069) has been forming higher lows for a month now. Last week we saw alot of buying pressure however due to the initial momentum which was lacklustre, we believe that this second wave of buying pressure will be able to break the RM1.03 resistance.
VIVOCOM (0069) is ready for a second wave of rally, and should RM0.91 be broken, high possibility that RM1.03 will be tested. And if VIVOCOM(0069) breaks out from RM1.03, the gap of RM1.22 will most likely be filled. Take not of VIVOCOM(0069)’s V shaped price action movement !
Conclusion:
Well, we belive that VIVOCOM(0069) is ready for a V shaped rebound, which will retest and break resistance RM1.03.
What will you do ?
DISCLAIMER: This post serves as an educational analysis and is never meant to be a buy/sell call or recommendation. Investors must always do their own due diligence before making any investment decisions. The author of this post is not liable in any way for any decisions made by any individual
https://klse.i3investor.com/blogs/VSR/2021-02-15-story-h1541083243-VIVOCOM_Ready_for_a_V_shaped_rebound.jsp
