Sector: Technology

Analysed on 19/12/21

Follow up on our previous analysis on PENTA, the share price was not able to overcome the resistance at RM5.750 level and subsequently dropped below RM5.500. Penta is currently trading at RM5.460, with immediate support at RM5.350 and immediate resistance at RM5.500.

From the perspective of Technical Analysis, PENTA is not looking good at the moment as both EMA25 and EMA50 are trending downwards. Moreover, there is also potential occurrence of dead cross which is another indication of downtrend stocks. It is advised that investor to stay away from this counter should the dead cross happens, and revisit this counter again when there is sign of reversal. 

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NOTT INVEST 

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