QES

Sector: Industrial Products & Services

Analysed on 15/08/2021

QES failed to stay above its resistance level at RM 0.890 after 06 August 2021. Its share price has retraced and closed at RM 0.835 last Friday. This retracement could be due to political instability and profit taking by traders. QES is potentially to move in sideway after failed to break its resistance level twice recently. As long as QES can stay above EMA50, there is no sign of downtrend. Should QES manage to break its resistance level at RM 0.890, the new uptrend rally might start. However, in view that the current market is extremely volatile, investors are advised to exercise cautiously should QES drops below EMA50.

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