SKPRES
Sector: EMS/Industrial Products
Analysed on 19/09/2021
SKPRES did well this week with a breakout from the descending trendline as shown in the chart. SKPRES is currently trading at RM1.910, with immediate support at RM1.870 and immediate resistance at RM2.030. Should SKPRES continue to stay above the descending trendline, it will challenge resistance in the near future.
Looking at the chart from a wider view, there is actually a formation of inverted head and shoulders pattern, which is also a bullish sign for SKPRES. Investor who is interested in SKPRES could take EMA25 or support level as reference for entry point.
We noticed most of the EMS counters are in uptrend mode now, let’s witness next week if this finding is valid!
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NOTT INVEST
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