PUNCAK buy signal based on MRV1 setup on 2 Jan 24 at RM0.395

• This is actually a repeated signal, as it was previously triggered on 13 Dec 2023 at a similar price of RM0.385.
  
• The support area could be set at the most recent pivot low of RM0.350, which coincides with the equilibrium support area. However, I would set the stop loss to RM0.345 to adhere to the minimum 10% risk based on the price.
  
• The target price is RM0.465. To maintain a risk/reward ratio of 1:2, you may choose to adjust this to 1:1.5 or 1:1 based on your preference.
  
• The time horizon is 2-3 months, as the signal is derived from the daily chart.
  
• The momentum signal was triggered at an uptick candle near the diagonal support of a rising price channel.
  
• An uptrend price pattern of higher highs (HH) and higher lows (HL) has been established, triggered after a pivot from channel support and coinciding with the equilibrium price area. A momentum signal at these price areas should be able to confirm the movement. Zoom out the chart to see.
  
• The immediate resistance is at RM0.435 and the next (faraway) resistance is at RM0.525.
  
• The support zone is at RM0.350.
  

**Only for discussion purposes. Not a buy / sell call**