Globetronics Technology Bhd

• Share price closed 4.00% higher at RM1.56 on last Friday.

• GTRONIC has been on an uptrend since reaching its 52-week low of RM0.99 on Oct-23. Decent buying momentum has been observed over the past 4 trading days as the RSI is moving toward an overbought position. MACD is poised for a potential crossover in the near term hence share price is expected to move higher.

• Resistance levels are identified at RM1.56 (R1) and RM1.61 (R2).

• On the flipside, support levels are pegged at RM1.46 (S1) and RM1.41 (S2).

Source: Rakuten Research - 2 Oct 2023

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