Globetronics Technology Bhd (7022)

• GTRONIC gained 3.2% or 7 sen to RM2.27 yesterday.

• Share price ended with a positive white candle yesterday on higher trading volume. Technically, from the upward movement of the RSI and MACD which has turned positive, the buying momentum is likely to sustain.

• From here, resistance levels are expected at RM2.35 (R1) and RM2.47 (R2).

• Conversely, downside support levels are identified at RM2.04 (S1) and RM1.99 (S2).

Source: Rakuten Research - 23 Oct 2019