DRB - Hicom Bhd (1619)

• DRBHCOM gained 1.15% or 3 sen to RM2.65 last Friday.
• Share price hit a 52-week high of RM2.71 recently before retracing to current level. Chart-wise, we believe the uptrend remains intact as evidenced by the upward movement of key momentum indicators RSI and Stochastics, hence it is likely to continue trending higher.
• As such, resistance levels are expected at RM2.71 (R1) and further to RM2.80 (R2).
• On the flipside, support levels are found at RM2.40 (S1) and RM2.30 (S2).

Source: Rakuten Research - 13 Aug 2019