Rakuten Trade Research Reports

Technical View - Gadang Holdings Bhd (GADANG, 9261)

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Publish date: Fri, 17 May 2019, 10:56 AM
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Gadang Holdings Bhd (9261)

  • GADANG rose 3.5 sen or 4.4% to RM0.83 yesterday.
  • GADANG closed higher for the second consecutive day accompanied by higher-than-average traded volume indicating sustained buying momentum. The price is trading above the key moving averages, hence we believe the price is likely to trend higher.
  • As such, resistance levels are identified at RM0.875 (R1) and further to RM0.960 (R2).
  • On the flipside, support levels are expected at RM0.785 (S1) and RM0.745 (S2).

Source: Rakuten Research - 17 May 2019

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