A COUPLE of failed attempts to penetrate the previous major rally peak of RM4.95, set on June 21, 2007, sent Berjaya Sports Toto Bhd
shares into a prolonged range-bound consolidation and subsequently an extended downward correction process, which saw prices swooned to a low of RM3.19 on May 29.
After violating the 61.8% Fibonacci retracement (FR) of RM3.20, this stock appeared frail and many people had expected it to tank deeper into the red. But a fresh bout of buying emerged unexpected to the rescue, thus lifting prices marginally higher off the ebb.
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