PIE
Sector: EMS/Industrial Products

Analysed on 19/09/2021
 
We noticed Bursa Industrial products index has broken new high (weekly chart), EMS counters could be having another round of hype!

PIE is well supported on ascending trendline as shown in the chart. PIE is currently trading at RM3.400, with immediate support at RM3.300 (EMA 50 + trendline) and immediate resistance at RM3.670. Should PIE continue to stay above the ascending trendline, it will challenge RM3.670 in the near future.
 
Overall, PIE looks strong with both EMA25 and EMA50 trending upwards, indicating an uptrend rally. Investor who is interested in PIE could take EMA25/50 or support level as reference for entry point.

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