DRB - Hicom Bhd (1619)

• DRB gained 5 sen or 1.7% to RM2.95 last Friday.
• Since our technical report on 10 Jun 2019 and subsequently on 13 Aug 2019, share price has advanced by 41%.
• Share price has broken a series of resistance level charting new high indicating stronger buying momentum. Coupled with positive financial results, we believe the uptrend remains intact.
• As such, immediate resistance levels are found at its 52-week higher at RM3.00 (R1) and RM3.10.
• On the contrary, support levels are identified at RM2.85 (S1) and RM2.65 (S2).

Source: Rakuten Research - 26 Aug 2019