Rakuten Trade Research Reports

Technical View - Matrix Concept Holdings Bhd

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Publish date: Wed, 07 Apr 2021, 05:21 PM
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Matrix Concept Holdings Bhd (MATRIX, 5236)

• MATRIX closed 2.6% or 5 sen higher to RM1.95 yesterday.

• Buying momentum remains strong as share price formed a bullish engulfing candle yesterday on the back of higher-than-average trading volume. With RSI pointing upward recently, the upward momentum is set to persist, potentially trading towards RM2.00 level.

• Resistance levels are projected at its 52-week high of RM2.03 (R1) and further to RM2.10 (R2).

• For downside support, support levels are identified at RM1.88 (S1) and RM1.79 (S2).

Source: Rakuten Research - 7 Apr 2021

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