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The stock rapidly rebounded from 0.54 back to 0.57. The market maker successfully fabricated panic to shake out a wave of retail investors before initiating this quick reversal. Entering with a small position here is reasonable. However, this is not the main uptrend yet. We must wait for the price to reclaim 0.62, break above 0.65, and stabilize there before it has a genuine shot at climbing much higher.
Based on today’s market action, this looks like the start of a downward move. No need to rush into a position yet, it’s better to wait and see how the situation unfolds before making any entry.
Don’t rush in yet. It’s still not the right time to enter. Based on today’s market action, the price may continue drifting lower tomorrow until the selling pressure eases and volume starts to pick up again.
Ideally, wait for the stock to reclaim RM0.62 and hold above that level firmly before considering an entry.
Entering now still carries the risk of getting trapped in a further pullback.