• BAHVEST closed 1.0% lower to RM0.49 last Friday.
• Chart-wise, share price is currently consolidating and rebounded from its recent low at RM0.47. Gold has also rebounded to above the USD1,800oz level, hence we expect buying interest to emerge on the only pure gold miner in BAHVEST following the disposal of its aquaculture business recently.
• As such, resistance levels are expected at RM0.535 (R1) and RM0.610 (R2) level.
• On the downside, support levels are set at RM0.460 (S1) and RM0.370 (S2).
Source: Rakuten Research - 10 Dec 2020
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Created by rakutentrade | Nov 05, 2024