• SMETRIC closed 6.1% or 1 sen higher to RM0.175 yesterday.
• Recent price action suggests improving buying interest after the retracement from high of RM0.225, supported by higher trading volume. However, SMETRIC is currently testing key resistance level of RM0.175 and should share price form a breakout from this level, the rebound is likely to continue.
• Next resistance levels are projected at RM0.19 (R1) and RM0.21 (R2).
• For the downside, should share price fail to break RM0.175 (R1) resistance, support levels can be seen at RM0.165 (S1) and RM0.150 (S2).
Source: Rakuten Research - 21 Apr 2021
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Created by rakutentrade | Nov 22, 2024