• PENTA closed 6.4% or 16 sen higher to RM2.67 last Friday.
• We believe share price is at its oversold level while last Friday’s move also signalling the resume of buying interest following recent sell down. Should the buying momentum remain, share price could trend higher.
• From here, resistance levels are expected at RM2.90 (R1) and further to RM3.20 (R2).
• On the flipside, support levels are identified at RM2.30 (S1) and RM2.05 (S2).
Source: Rakuten Research - 23 Mar 2020
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Created by rakutentrade | Aug 23, 2024