Rakuten Trade Research Reports

Technical View - Gamuda Bhd (GAMUDA, 5398)

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Publish date: Mon, 29 Apr 2019, 03:47 PM
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Gamuda Bhd (5398)

  • GAMUDA advanced 9 sen or 2.6% to close at RM3.55 last Friday.
  • Technically, GAMUDA is currently trading above its 21-day upward sloping moving averages, signalling stronger buying momentum on the stock. Furthermore, the momentum was reinforced by recent resistance breakout and thereby we expect the price to trend higher on the back of improving sentiment within the construction sector.
  • As such, resistance levels are identified at RM3.85 (R1) and RM3.97 (R2).
  • On the flipside, support levels are found at RM3.35 (S1) and RM3.02 (S2).

Source: Rakuten Research - 29 Apr 2019

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