• COCOLND ended 1.6% or 3 sen higher to RM1.88 yesterday.
• Share price has recovered from its low of RM1.39 and is now building a strong support at current level. Share price is currently testing its 200-day simple moving average line, a breakout from this level will see it head towards the RM2.00 level.
• As such, resistance levels are expected at RM1.95 (R1) and RM2.02 (R2).
• On the downside, support levels are seen at RM1.80 (S1) and RM1.71 (S2).
Source: Rakuten Research - 20 May 2020
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Created by rakutentrade | Aug 23, 2024