Nott Invest

DNEX - Consolidation continues

Publish date: Sun, 05 Dec 2021, 09:28 AM
Nott Invest Analyses


Sector: Technology, Oil & Gas

Analyzed on 05/12/2021

As shown in the chart, DNEX has been trading in a sideway channel since Q1 2021 after reaching a high of above RM1.0. The overall KLSE market has not been doing well lately amid the negative sentiment arising worldwide due to the new Covid-19 variant. DNEX is also not spared, thus after reporting its QR, DNEX has retreated below EMA25/50 and closed at RM0.745 for the week. Should the retracement continues, we anticipate DNEX to find support at RM0.66 level and resistance at RM0.905.

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