ANCOMNY - Triangle lower line holding?

ANCOMNY Weekly Chart

ANCOMNY Daily Chart

Weekly chart shows ANCOMNY has been trading within a triangle pattern. Early Apr 2024 it traded below the triangle lower line falling below RM1 but closed above it last week on relatively high volume. False breakdown usually lead to a move higher! In addition, reports shows ANCOMNY has been buying back its shares since it fell below RM1.

A move higher to test the triangle upper line looks likely and a breakout above it is expected to take ANCOMNY to its all-time high at 1.35.

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