Advancecon Holdings Bhd (5281)

• ADVCON gained 4 sen or 9.4% to close at RM0.465 yesterday.
• Chart-wise, ADVCON closed with a bullish long white candle yesterday on the back of higher-than-average trading volume due to rally within the construction sector. As such, we expect the buying momentum to persist and potentially move the price higher.
• From here, resistance levels at expected at RM0.475 (R1) and further to RM0.485 (R2).
• On the flipside, support levels are found at RM0.400 (S1) and RM0.390 (S2).

Source: Rakuten Research - 23 Apr 2019