Possible for technical rebound. SWIFT is staging a potential technical rebound with a formation of hammer candlestick amid market weakness. Corresponding RSI and MACD indicators remain healthy with anticipation of continuous improvement in both momentum and trend in the near term. Should resistance level of RM0.800 be broken, it may continue to lift price higher to the next resistance level of RM0.845.
However, failure to hold on to support level of RM0.730 may indicate weakness in the share price and hence, a cut-loss signal.
Source: PublicInvest Research - 8 Mar 2022
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Created by PublicInvest | Mar 21, 2024