Rakuten Trade Research Reports

Technical View - P.I.E. Industrial Bhd (PIE, 7095)

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Publish date: Thu, 27 Feb 2020, 11:57 AM
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P.I.E. Industrial Bhd (7095)

• 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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