Rakuten Trade Research Reports

Technical View- Iconic Worldwide Bhd

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Publish date: Thu, 05 Nov 2020, 09:50 AM
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Iconic Worldwide Bhd (9113)

• ICONIC rose 1.0% or 0.5 sen to RM0.49 yesterday.

• Share price has been on a consolidation mode for some time while recent positive signs from key technical indicators resemble stealth buying pattern. It is hovering above key moving average line and could attempt to stage a bullish breakout from current level.

• As such, resistance levels are expected at RM0.565 (R1) and RM0.66 (R2) level.

• On the downside, support levels are set at RM0.40 (S1) and RM0.35 (S2).

Source: Rakuten Research - 5 Nov 2020

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