• PESTECH rose 8 sen or 7.7% to RM1.13 yesterday.
• From a technical perspective, chart is signalling encouraging buying momentum with bullish crossover of moving average lines yesterday on the back of higher trading volume. As such, we expect the upward strength to persist.
• From here, resistance levels are at RM1.18 (R1) and further to RM1.31 (R2).
• On the contrary, support levels are identified at RM1.07 (S1) and RM0.96 (S2)
Source: Rakuten Research - 11 Feb 2021
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