Ann Joo Resources Bhd (6556)

• ANNJOO closed 8 sen or 7.5% higher to RM1.15 last Friday.

• ANNJOO has bottomed out following the rebound from its 52-week low of RM0.95 to current level. Recent share price recovery suggests renewed buying interest and is likely to move higher to around the RM1.40 level.

• As such, resistance levels are expected at RM1.28 (R1) and RM1.40 (R2).

• On the flipside, support levels can be identified at RM1.00 (S1) and RM0.95 (S2).

Source: Rakuten Research - 16 Dec 2019