QES

Sector: ATE/ Semiconductor

Analyzed on 12/09/2021

Attached are the daily chart and weekly chart of QES. Looking at the daily chart, QES share price has retraced from a high of RM0.975 to close at RM0.745 on Friday (-23%). The share price is now below daily chart EMA25/50. Amid the generally weaker market sentiment this week, QES EMA25/50 is at the verge of Dead Cross. This signifies a bearish signal. Meanwhile in the weekly chart, QES has extended quite significantly since Jan 2021 and now has retraced close to its weekly EMA 25 level. At current price, we expect QES to gain mid-term technical support. Should QES continue to drop below RM0.70 with confirmation signal, then a bearish trend may commence.

Reason to monitor: Daily chart dead cross, weekly chart at EMA25 support

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NOTT INVEST 

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