Poh Huat Resources Holdings Bhd (7088)

• POHUAT closed 6.5% or 9 sen higher to RM1.47 yesterday.
• From technical perspective, share price is currently trading above key moving averages and recent positive crossover of the moving average lines indicating strong buying momentum. Additionally, key momentum indicator RSI has also added encouraging signs on the price movement hence we expect share price to move higher.
• Resistance levels are identified at RM1.60 (R1) and RM1.80 (R2).
• Conversely, support levels are seen at RM1.39 (S1) and RM1.25 (S2).

Source: Rakuten Research - 18 Sept 2020