Bursa Malaysia Bhd (1818)

• BURSA gained 8 sen or 1.3% to close at RM6.04 yesterday.
• Share price closed with white candle yesterday and continue to rebound for the second consecutive day suggesting trend reversal. Key momentum indicators are flashing signs of oversold and is likely to attract buyers.
• Announcement on the inclusion to Syariah-compliant list is expected to see share price to gather momentum as Shariah funds will likely to reallocate and buy into BURSA once again.
• Resistance levels at RM6.16 (R1) and RM6.30 (R2).
• On the flipside, support levels are identified at RM5.80 (S1) and RM5.50 (S2).

Source: Rakuten Research - 31 May 2019