Sector: Industrial Product

Analysed on 30/10/21

Follow up on our analysis on SUCCESS last week, SUCCESS performed well and managed to break the resistance at RM0.985 and RM1.030. SUCCESS is currently trading at RM1.070, with immediate support at RM1.030 and immediate resistance at RM1.100. We may see SUCCESS retraces to RM0.985 if it fails to stay above RM1.030.

Overall, SUCCESS is still on an uptrend, with both EMA25 and EMA50 trending upwards. Note that there were 4 consecutive big candles recently, indicating that the daily volatility is slightly high at the moment. In order to minimise the risk, investor who is interested in SUCCESS may consider to enter when the volatility reduces. Support levels can be taken as reference for entry point.

Reason to Monitor: Technical Breakout

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