Rakuten Trade Research Reports

Technical View - Straits Inter Logistics Bhd (STRAITS, 0080)

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Publish date: Wed, 26 Jun 2019, 11:10 AM
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Straits Inter Logistics Bhd (0080)

  • STRAITS closed 6.5% or 1.5 sen higher to RM0.245 yesterday.
  • Share price has broken from its consolidation phase with a bullish long white candle yesterday on the back of strong trading volume, which is more than 6-fold of its 20-day average.
  • Chart-wise, momentum indicators are showing upticks and MACD is above signal line, signalling bullish breakout out from current level.
  • As such, resistance levels are expected at RM0.265 (R1) and further to RM0.285 (R2).
  • On the flipside, support levels are found at RM0.225 (S1) and RM0.210 (S2).

Source: Rakuten Research - 26 Jun 2019

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