REVENUE

Sector: Technology / Payment

Analyzed on 8/8/2021

Revenue Group Bhd appears in the news recently as it partners with Sarawak State and Kenanga Investment Bank Bhd to apply for a digital banking licence from Bank Negara Malaysia (BNM). Revenue was last trading at RM1.96 after a big green candle on last Thursday. It is facing an immediate resistance at RM1.98 level, it needs a sustainable breakout to confirm its uptrend. EMA25/50 have been trending downwards since April 2021, should the breakout sustained, its EMAs will also be trending upwards. Support level at RM1.84.

Looking at a broader view, we may notice a Head and Shoulders pattern, which signify bearish sentiment. Let’s watch if its upcoming QR can lift its share price to breakout from the H&S pattern.

--------------------------------------------------------
Follow our FB and telegram channel for more investing and trading analysis. Share it out to your friends and family!

 TELEGRAM ：https://t.me/nottinvest

 FB PAGE ：https://fb.com/NottInvest

--------------------------------------------------------

Cheers
NOTT INVEST 

Disclaimer: 

This content by NOTT INVEST, is in no way a solicitation or offer to buy or sell securities or investment advisory services. 

Readers should always seek the advice of an appropriately qualified professional and perform due diligence before making any investment decisions. 

We shall not be liable for any errors or inaccuracies, regardless of cause.