Rakuten Trade Research Reports
Technical View - Guan Chong Bhd (GCB, 5102)
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Publish date: Wed, 21 Aug 2019, 11:32 AM
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All materials published here are prepared by Rakuten Trade. For latest offers on Rakuten Trade products and news, please refer to: https://www.rakutentrade.my/
To sign up for an account: http://bit.ly/40BNqKI
Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
Guan Chong Bhd (5102)
- GCB advanced 10.8% or 38 sen to end at RM3.91 yesterday.
- Following their many consecutive quarters of profit growth and proposed bonus issue, share price hit above RM4.00 level yesterday, forming a positive long white candle with high trading volume. With a bullish signal from MACD and upticks in other key momentum indicators, the bullish trend is still intact.
- As such, resistance levels are expected at RM4.10 (R1) and possibly heading towards RM4.24 (R2).
- On the flipside, support levels are found at RM3.40 (S1) and RM3.20 (S2).
Source: Rakuten Research - 21 Aug 2019
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