LOTUS (8303): Testing Key Support Level at RM0.155

LOTUS (8303) is nearing a key support level at RM0.155 after closing 3.13% lower in its latest session. This level has historically acted as a potential reversal point, but a breach could signal further downside toward RM0.150 or lower.

Support & Resistance. RM0.155 is the immediate support, while RM0.160 serves as resistance. A breakout above RM0.160 with higher volume could indicate recovery and entry point.

Candlestick Analysis. Recent candles show weak buying pressure, with no clear bullish reversal pattern emerging yet. However, any breach beyond the RM0.160 is worthwhile for traders to take position.

Momentum. Consolidation phase.

If the RM0.155 support holds, LOTUS could stabilise and attempt a rebound. However, a breakdown below this level may lead to further declines. Nevertheless, we see a bullish signal from the RSI indicator, which could lead to a trend reversal upon breakout from the consolidation phase.