• CANONE rose 2.9% or 8 sen to RM2.84 last Friday.
• From a technical perspective, the upward trend is looking positive as share price moved ahead of the key 50-day moving average lines last Friday on the back of higher volume. This suggests encouraging buying interest hence we expect share price to go higher.
• As such, resistance levels are identified at RM3.00 (R1) and further to RM3.13 (R2).
• On the downside, support levels are set at RM2.61 (S1) and RM2.54 (S2).
Source: Rakuten Research - 2 Feb 2021
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Created by rakutentrade | Nov 22, 2024