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Rakuten Trade Research Reports

Author: rakutentrade   |   Latest post: Mon, 28 Sep 2020, 5:19 PM

 

Technical View - Bioalpha Holdings Bhd (BIOHLDG, 0179)

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Bioalpha Holdings Bhd (0179)

• BIOHLDG closed 2.9% or 0.5 sen higher to RM0.18 yesterday.

• Share price broke above key moving averages with a bullish breakout on the back of higher volume.

• Following yesterday’s announcement on securing their largest ever supply contract of health food products to China valued at RM2.1bn over 5 years, we expect to see follow through buying interest on the stock, possibly surging to new highs on this positive development.

• As such, resistance levels are identified at RM0.200 (R1) and RM0.225 (R2).

• Conversely, support levels are seen at RM0.160 (S1) and RM0.145 (S2).

Source: Rakuten Research - 23 Jul 2020

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Labels: BIOHLDG

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Chart Stock Name Last Change Volume 
BIOHLDG 0.23 0.00 (0.00%)

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