• PIE ended 4 sen or 2.9% higher to RM1.44 yesterday.
• Share price staged a rebound from its 200-day moving averages line recently suggesting strong buying interest. Supported by the upticks in key momentum indicator, we expect the rebound to continue potentially towards RM1.60 level.
• As such, resistance levels are expected at RM1.54 (R1) and further to RM1.65 (R2).
• On the contrary, downside support levels are expected at RM1.38 (S1) and RM1.30 (S2).
Source: Rakuten Research - 27 Feb 2020
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Created by rakutentrade | Aug 23, 2024