Nextgreen Global Bhd (7241)

• NGGB gained 7.9% or 3 sen to RM0.41 yesterday.
• Yesterday’s uptrend sent the price to close with a bullish white candle on the back of higher-thanaverage trading volume. Share price broke out of its consolidation phase accompanied by signs of upturn of key momentum indicators recently, thus we expect the share price to continue trending higher.
• As such, resistance levels are expected at RM0.43 (R1) and possibly heading towards RM0.46 (R2).
• On the flipside, support levels are identified at RM0.38 (S1) and RM0.35 (S2).

Source: Rakuten Research - 5 Jul 2019