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Mid-Day Review & Analysis 1st June
VIVOCOM ended a holiday-type of trading unchanged at 29.5 sens after thin trading.
News of MOU signing with China Nuclear had limited bullish impact as stale-bull liquidation continued in a small way judging from the extremely low volume of 7.45 M shares this morning.
Technically, we are still in congestion trading with prices hovering around 28.5 to 30.5 range.
This situation may persist for a while before a significant breakout occurs.
A break-out in either direction would determine the course of the immediate term trend.
Since prices are at the tail-end of the recently developed downward trend, prices are more likely to move up than down.
Based on the Quantitative Algorithm signal at close today, the sideways consolidation pattern would continue to expand. |
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