yesterday’s sell-off, we might see its share price falling further, potentially towards the key low of
RM1.20. We are Neutral on the stock’s near-term technical outlook and have identified a potential
trading range for Evergreen going forward. There is a possibility of the stock being stuck between
two key levels, namely the RM1.20 level and the RM1.70 level, until either one of these levels is
violated. Hence, unless its share price starts to trade outside the RM0.50 range, the stock price is
expected to fluctuate sideways going forward. Within the trading range, the RM1.60 level is the
immediate resistance while RM1.26 is the immediate support.
