PIE

Sector: EMS/ Industrial products

Analyzed on 19/12/2021

Following up from previous analysis, PIE has broken its lower band of its uptrend channel, and went below its EMA25/50 with lower trading volume to close at RM3.74 last Friday. With it failing to be supported by its uptrend channel and EMA50, it has higher chance to continue retracing to its support level. Using Fibonacci Retracement, we could identify RM3.58 and RM3.38 as its 38.2% and 50% retracement support levels respectively. Let’s see if PIE will continue its retracement or rebound amid the expected year-end window dressing.

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