A quick look at Perennial Holdings

In the recent months, there has been a number of share buyback for this counter and thus it got me interested to "dig" further. This counter does not fall under my normal selection as it does not meet my requirements, and certainly, it is not an income stock either as the dividend is not attractive. This counter falls into my short to medium term bucket for capital gain, which also means that I will cut loss if it goes the opposite direction.
Investors who invested in this counter must have been disappointed, as shown in the chart below that it corrected from the high, and has been in the support region since 2015. The counter has also tested key support 3 times, and yesterday it managed to break out of the downward trend and resistance.
Let's look at the TA.

From the chart below, the key support line was broken, but in the next few months, the stock price crossed back to above the support line, which means that this line has form a strong support base. Yesterday, the counter broke the downward trend with good volume, a good probability of it hitting the next target of $1.06. However, if the counter dropped in the opposite direction, then I will cut loss.

(Vested)