Sakari: OCBC says Sakari is likely to face further downside pressure after breaching its 3-month uptrend support recently; adds, this was followed by a bearish break and subsequent failed retest of the $2.36 support-turned-resistance over the past few sessions.
Notes that indicators are bearish, with MACD is still retreating steadily at the moment after falling under the centerline, suggesting that the downside momentum remains intact.
Tips a test of initial support at $2.10 in the wks ahead, while $2.36 is now the newly established support-turned-resistance.
OCBC’s technical view contrasts with its fundamental Buy rating with TP $2.76.
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