Asia Poly Holdings Bhd (ASIAPLY, 0105)

• ASIAPLY gained 6.6% or 2.5 sen to RM0.405 yesterday.

• ASIAPLY tested its resistance of RM0.40 level and rose with higher-than-average trading volume yesterday. As share price is trading above short term upward sloping moving average lines, there is higher possibility for the share price to move higher.

• As such, resistance levels are expected at RM0.45 (R1) and further to RM0.50 (R2).

• Conversely, support levels are projected at RM0.375 (S1) and RM0.365 (S2).

Source: Rakuten Research - 15 Apr 2021