Straits Inter Logistics Bhd (0080)

• STRAITS gained 2.2% or 0.5 sen to close at RM0.230 yesterday.
• STRAITS closed with a white candle yesterday indicating some degree of strength in the share price which has been on consolidating phase of late. Meanwhile, RSI is also displaying uptick in momentum and we expect buying interest to sustain with the follow-through buying on the back of their positive announcements on proposed acquisition of vessel that is earnings accretive and sustaining their profit growth.
• Should the price be able to break its immediate resistance at RM0.235 (R1), next resistance is expected at RM0.25 (R2) level.
• Conversely, support levels are found at RM0.22 (S1) and RM0.21 (S2).

Source: Rakuten Research - 18 Jun 2019