DAYANG may signal end of Oil Slump

Looking at the chart for Dayang Enterprise Holdings, here's my analysis:

Current Price Action:
- Trading at RM2.21, down 1.34%
- Moving averages in bearish alignment:
* SMA 10: 2.30
* SMA 20: 2.22
* SMA 50: 1.95
* SMA 200: 1.67

Elliott Wave Analysis:
- Currently in wave (iv) of a larger correction
- Complex correction pattern with multiple abc waves
- Key support level at RM1.96 needs to hold

Technical Structure:
1. Support Levels:
- Critical support at RM1.96 (red dashed line)
- Moving average support at RM1.95 (50 SMA)
- Major support at RM1.67 (200 SMA)

2. Resistance Levels:
- Immediate resistance at RM2.42
- Secondary resistance at RM2.80 (previous high at point b)
- Volume resistance zone around RM2.60

Notable Financial Events:
- September 2024: MYR234.368M (+625.17%)
- June 2024: MYR32.319M (+203.95%)
- Net income showing improvement: MYR222.267M (-14.02%)

Trading Considerations:
- Currently in consolidation phase
- Watch for break above RM2.30 for bullish confirmation
- Stop loss could be placed below RM1.96
- Volume (5.82M) showing decent market participation