Technical Pick: Dialog (7277)
Dialog (7277) is currently trading at RM1.63 which is just above the 20 days moving average. It has seen a reversal of previous consolidation happened between 10 Feb and 18 Feb that seen the stock falling from RM1.70 to RM1.56 over this period.
Based on the chart, it has started to look bullish with a white candle yesterday and most possibly today. The Stochastic indicator started to see bullish reversal, RSI is at above 30 and pointing upwards. MACD has recorded green bar after many days of red bars.
It looks to me that this stock is trading towards its immediate resistance which is also a short term major support of RM1.70. The next target would be RM1.78.
Stop loss should be set at RM1.56 which is the recent support.
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