Pestech International Bhd (PESTECH, 5219)

• PESTECH ended 4 sen or 3.8% higher to RM1.08 yesterday.

• Since hitting a high of RM1.43 in Feb 2021, share price has retraced to current level. Yesterday’s move saw share price rebounded from support at RM1.03, implying
  emergence of buying interest. This could suggest selling is overdone, and hence current level may provide entry opportunity for potential reversal.

• Resistance levels are set at RM1.14 (R1) and further to RM1.28 (R2).

• For the downside, support levels are expected at RM1.03 (R1) and next at RM0.97 (S2).

Source: Rakuten Research - 5 May 2021