Pos Malaysia Bhd (4634)

• POS rose 9 sen or 5.4% to RM1.75 last Friday.
• POS which has hit a 52-week low of RM1.22 on May 2019 has slowly rebounded to current level. Last Friday’s close marked a breakout from its 50 and 100-day key moving average on the back of higher trading volume. With the encouraging signs of key technical indicators, we expect the uptrend to continue.
• Should it break the immediate resistance level at RM1.86 (R1), next key resistance level is expected at RM2.00 (R2).
• Conversely, support levels are found at RM1.55 (S1) and RM1.40 (S2).

Source: Rakuten Research - 17 Sept 2019