NagaCorp (HK: 3918) bearish move is expected to halt based on the technicals below:

1. The stock has fallen since late 2019 from 14.75 to 11.00 psychological support level.
2. The Bullish hammer is a reaction to the strong buyback at the 11.00 psychological support. This view is further reiterated by the spike in volume on 29^th Jan 2020.
3. Bullish hammer rejection above the demand level indicate further upside.
4. On the indicator front, stochastic shows an oversold cross, indicating a bullish rebound is around the corner.

*The technical call is valid only for 3 weeks.

CHART LEGENDS

Simple Moving Averages

Green dotted line = 22 SMA