• 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
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MYEGCreated by rakutentrade | Aug 23, 2024