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ARBB (7181) ARB BERHAD - SELLDOWN OVER FOR THIS UNDERVALUED GEM!!

Amidst the chaos between United States, China as well as the newly joined party – European Union, we had seen major sell down in technology stocks all around the globe. Of course, we as one of the major contributors of downstream semiconductor play in ASEAN could not be freed from this incident.

However, one company stood out in the technology rally. This stock does not give 100%, 200% or 300% return to shareholders, but its relatively low valuation had given investors a safety haven to put their cash in during the downturn.

And this UNDERVALUED GEM we are discussing today is ARB Berhad (7181).

ARBB had been a hot topic of discussion in this forum for a very long period of time. However time and time and again, the management had proved themselves with extraordinary profits.

But today, we are going to talk about the technical aspects of this company.

As you can see, ARBB had formed 2 double bottoms. One in the mid term and one in the shorter term. This indicates a strong buying power is emerging around the current price level of the company.

The EMA 50 also shows a strong trailing of trend intact for the company while majority of the technology stock had dropped below EMA 20, 50 and some even to the extent of EMA 100.

I believe being a discounted technology stock with good support around current price level, ARBB is no doubt a buy. There is however short term resistance of 37.5 cents and 40.0 cents respectively. You may trade the stock for short term or for longer term investors, the price range to collect “cheap shares” is approximately 32.0 cents.

https://klse.i3investor.com/blogs/hogtechnical/2021-03-24-story-h1542957383-SELLDOWN_OVER_FOR_THIS_UNDERVALUED_GEM.jsp

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