Short-term view on CABNET BERHAD

Heavy collection done at price range RM0.25 for almost a year.
Break our RM0.30 recently and able to hold firm above RM0.35
Break out RM0.30 with increased volume suggesting that big boy really committed to this counter.
RM0.35 hold firm for 4 days even though weak market sentiment.
Price tried to break through RM0.40 but failed on 23/06/2021, however price still maintained above RM0.35(another T2 done)
MA9 above MA20 (uptrend)
Banker Chips piling up
Heavy support on RM0.35~RM0.37

Investors with higher risk tolerance may start to piling up some chips before the price skyrocket to the moon.

Comment:

Monitor for few more days before making decision to take position on this counter.
Banker not support the counter at all during bad market sentiment, and dump the share price below RM0.30. Nevertheless, big boy may also trapped at RM0.35
Can try Buy-today-Sell-today strategy if showing sign of reversal.

Comment:

Very obvious dump and shake.
Banker shaking little confidence retailers out of this counter.
Big dropped but able to sustain above RM.030
Double up position on this counter and set cut lose below RM0.28
Market sentiment getting better and share price should spike up anytime next week.

Comment:

Cabnet trading at 0.37/0.375 for few days.
Keep monitor for breakout soon.

Comment:

Selling force from top is just too strong for banker to push up.
Should stay away from this counter and looking for better opportunity.