Eye on stock spritzer
Spritzer Bhd
(code: 7103) gapped up at Friday’s opening to challenge the 200-day simple moving average (SMA) but erased all its gains to close unchanged at day’s end.
The stock has been facing consolidation pressure ever since it bottomed out at a recent low of RM1.87 on Monday. There have been two attempts thus far to break above the 200-day SMA, but both were unsuccessful. At present, the stock remains at risk of resuming its correction unless buying interest is sustained to make a break above the resistance.
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