Digi: Building Price Shoulders?

Traction Building

Well, there is just no strength today as the market appears lackluster.

Digi started a tad or two better and it is floating at just that level at about the RM3.62-RM3.63 price axis.

I think in a way it is building price shoulders so that there will be traction.

I do not expect it to breach RM3.70 anytime as there appears to be a surfeit of willing weak sellers or quick profit takers.

Taking on 5 sen at noon

At one time, bargain hunters crashed the price below overnight closing price but more persistent-minded buyers came out just before the bell to shore prices up by 5 sen to RM3.65.

Though the market wobbled on its legs at closing time, Digi managed to moved up to RM3.73; up 13 sen after a day of tug of war between bargain hunters, weak sellers and opportunists looking for entry.

Finally breaching RM3.70 barrier