Rakuten Trade Research Reports
Technical View - Velesto Energy Bhd (VELESTO, 5243)
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Publish date: Thu, 24 Oct 2019, 09:16 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
Velesto Energy Bhd (5243)
• VELESTO rose 7.58% or 2.5 sen to RM0.355 yesterday.
• We believe the uptrend is intact as share price has tested its 52-week high at RM0.365 yesterday with exceptionally higher trading volume. Technical-wise, the share price is trading above all leading moving averages and we expect buying interest to persist, possibly to trend higher.
• From here, resistance levels are expected at RM0.420 (R1) and RM0.480 (R2).
• On the flip side, downside support levels are identified at RM0.315 (S1) and RM0.300 (S2).
Source: Rakuten Research - 24 Oct 2019
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