MY E.G. Services Bhd (0138)

• MYEG closed 3 sen or 2.56% lower to RM1.14 last Friday.

• Chart-wise, share price managed to recover to current level from the low of RM1.06 recently, indicating positive signs on bargain hunting. Besides, with the re-emergence of the Employees Provident Fund as the substantial shareholder, we expect the buying momentum to continue potentially sending share price to higher level.

• As such, resistance levels are expected at RM1.20 (R1) and further to RM1.28 (R2).

• On the contrary, support levels are identified at RM1.08 (S1) and RM0.97 (S2).

Source: Rakuten Research - 9 Mar 2020