Rakuten Trade Research Reports

Technical View - Gamuda Bhd (GAMUDA, 5398)

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Publish date: Mon, 24 Jun 2019, 09:40 AM
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Gamuda Bhd (5398)

  • GAMUDA gained 3.2% or 12 sen to close at RM3.83 last Friday.
  • GAMUDA closed higher for the fourth consecutive sessions last Friday, breaking out from its consolidation mode accompanied by higher-than-average trading volume. Share price is currently trading above all key moving averages, signalling continuation on the upward momentum.
  • Should the price be able to break its immediate resistance level at RM4.04 (R1), we expect next resistance towards RM4.18 (R2).
  • On the flipside, support levels are found at RM3.26 (S1) and RM3.02 (S2).

Source: Rakuten Research - 24 Jun 2019

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