Sector: Technology

Analysed on 07/11/21

PENTA successfully broke the descending trendline after the group released a QR that beat the market expectations. PENTA has reported their best ever quarterly revenue which supported by the strong growth in the automotive segment. PENTA is currently trading at RM5.690, with immediate support at RM5.600 and immediate resistance at RM5.750.

Both EMA25 and EMA50 has began to slope upwards since the release of QR, indicating that the momentum is strong for PENTA at the moment. As cross-border travelling is slowly lifted up globally, we believe that this will continue to benefit PENTA. Opening up of cross-border travelling ensure a smoother progress for PENTA to undergo project site installation and deployment at their customers’ premise, which is very important for revenue recognition to take place. Investor who is interested in PENTA can take the support level as reference for entry.

Reason to Monitor: Technical Breakout, Good prospects

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NOTT INVEST 

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