Rakuten Trade Research Reports
Technical View - Melewar Industrial Group Bhd (MELEWAR, 3778)
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Publish date: Thu, 11 Apr 2019, 11:19 AM
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All materials published here are prepared by Rakuten Trade. For latest offers on Rakuten Trade products and news, please refer to: https://www.rakutentrade.my/
To sign up for an account: http://bit.ly/40BNqKI
Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
Melewar Industrial Group Bhd (3778)
- MELEWAR advanced 9.1% or 1.5 sen to close at RM0.18 yesterday.
- Yesterday’s rise close above all key moving averages with higher trading volume, more than 7- fold of its 20-day average volume. Chart-wise, key momentum indicators is signalling uptick in buying momentum with resistance breakout recently.
- As such, we expect the buying interest to continue trending to RM0.195 (R1) and to RM0.225 (R2).
- Conversely, support levels can be found at RM0.130 (S1) and RM0.125 (S2).
Source: Rakuten Research - 11 Apr 2019
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