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As mentioned with Dayang previously, it is a long term holding stock along with other O&G stocks. Although it may continue to sideway for some time, there is little possibility that it will dip sharply (and even if it does, it is not necessarily bad). One must remember that Dayang's movement follows global oil prices very strictly. As long as Brent Oil remains below $50, Dayang should continue to sideway. Is this a good collection opportunity? If you are a long term investor, then yes. If you are a trader, then no. There is of course, no harm parking some capital in Dayang for now as technically, it is in a very attractive risk-reward position. For more analysis, join our public tel3gram channel @elite_consultinggroup.
Finally we see a pennant breakout today! Dayang will now retest 1.38 the immediate critical resistance. In line with global market sentiment, Dayang should continue to see short term gains. For more analysis, join our public tel3gram channel @elite_consultinggroup.