SUPERMX 14/8/2020

One of the superstars in the healthcare rally in recent months has shown some major weaknesses these few days. Today it came down hard, rebounded from its support line RM18 back on to its uptrend line (a weak one). From the indicators, it seems that retail sell down was behind the major correction (which is a good sign in my opinion). Should Supermx regain some upward momentum and climb a few bids upwards, it will be a good entry because the reward is greater than the risk at the moment, barring any major news that may negatively impact the sentiment.

EP: RM18-18.5
TP: RM22- RM24
CL: RM16.5