Ancom Nylex Berhad (ANCOMNY, 4758)

• Share price closed 2.11% higher at RM0.97 on Monday.

• ANCOMNY has been down trending from its peak at RM1.26 in early February. Selling pressure hasbeen on-going for the past 5 months. Nevertheless, a minor rebound was expected from its support formed at RM0.94. In view of the upcoming 3Q quarter result announcement next week, and indicators showing bullish momentum, prevailing rebound momentum is expected to persist.

• Resistance levels are identified at RM1.02 (R1) and RM1.14 (R2).

• On the flipside, support levels are pegged at RM0.94 (S1) and RM0.905 (S2).

Source: Rakuten Research - 4 Jul 2023

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