Dayang Enterprise Holdings Bhd (5141)

• DAYANG rose 1.6% or 3 sen to RM1.90 last Friday.

• Share price hit a high of RM2.20 in mid-October thereafter trapped in a consolidation mode which exhibit a healthy pullback, building a support base for the next leg up from current level. Share price is now trading above its key moving averages and we expect buying interest to remain strong with share price potentially re-testing its recent high of RM2.20.

• Resistance levels are expected at RM2.01 (R1) and RM2.17 (R2).

• On the contrary, support levels can be identified at RM1.83 (S1) and RM1.77 (S2).

Source: Rakuten Research - 18 Nov 2019