Rakuten Trade Research Reports

Technical View - ACME Holdings Bhd

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Publish date: Thu, 06 May 2021, 11:03 AM
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ACME Holdings Bhd (ACME, 7131)

• ACME rose 7.6% or 2.5 sen to RM0.355 yesterday.

• ACME formed a rounding bottom pattern accompanied with a breakout at RM0.33 level recently on the back of higher trading volume. Such formation indicates potential reversal from the earlier downtrend. With the slope of key moving average lines turning upward, the rebound is likely to continue.

• Resistance levels are at RM0.42 (R1) and further to RM0.48 (R2).

• For the downside, support levels are expected at RM0.33 (R1) and next at RM0.275 (S2).

Source: Rakuten Research - 6 May 2021

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