Rakuten Trade Research Reports
Technical View - Zecon Bhd (ZECON, 7028)
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Publish date: Fri, 14 Feb 2020, 03:10 PM
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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
Zecon Bhd (7028)
• ZECON closed flat at RM0.63 yesterday.
• Share price has been trading above the upward sloping 50-day SMA, anchoring at strong support level. Key indicators are showing increasing buying momentum buoyed by news on the proposed stimulus package to be announced soon. Since there have been renewed interest within the construction sector, share price may see a bullish breakout above the RM0.70 level.
• From here, resistance levels are expected at RM0.685 (R1) and further to RM0.700 (R2).
• Conversely, downside support levels are expected at RM0.580 (S1) and RM0.510 (S2).
Source: Rakuten Research - 14 Feb 2020
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