Rakuten Trade Research Reports

Technical View - Bahvest Resources Bhd (BAHVEST, 0098)

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Publish date: Mon, 04 Nov 2019, 10:55 AM
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Bahvest Resources Bhd (0098)

• BAHVEST gained 3 sen or 5.8% to RM0.55 last Friday.

• Share price displayed a bullish breakout from its consolidation on the back of higher trading volume last Friday, indicating strong buying interest. We expect share price to continue with its bullish up trend from rising gold prices currently above the US$1,500 level plus positive signals from the technical indicators.

• From here, resistance levels are found at RM0.58 (R1) and RM0.65 (R2).

• On the flip side, downside support levels are identified at RM0.50 (S1) and RM0.45 (S2).

Source: Rakuten Research - 4 Nov 2019

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