Rakuten Trade Research Reports

Technical View - Gamuda Bhd

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Publish date: Tue, 09 Mar 2021, 06:20 PM
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Gamuda Bhd (GAMUDA, 5398)

• GAMUDA gained 4.4% or 15 sen to RM3.55 yesterday.

• Share price formed a positive breakout yesterday after a period of consolidation indicating the emergence of buying interest. With key technical indicators signalling stronger buying force, share price is likely to move higher.

• Based on Fibonacci retracement level, resistance levels are set at RM3.76 (R1) and RM4.18 (R2).

• On the downside, support levels are seen at RM3.35 (S1) and RM2.83 (S2).

Source: Rakuten Research - 9 Mar 2021

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