Rakuten Trade Research Reports

Technical View - AME Elite Consortium Bhd

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Publish date: Fri, 28 May 2021, 11:00 AM
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AME Elite Consortium Bhd (AME, 5293)

• AME closed 3.6% or 8 sen higher to RM2.30 yesterday.

• AME formed a breakout at RM2.26 accompanied with a higher-than-average trading volume providing positive technical signals. The buying momentum is further reinforced by the bullish crossover of MACD, implying higher upside for share price.

• Resistance levels are expected at RM2.34 (R1) and RM2.50 (R2).

• On contrary, support levels are identified at RM2.17 (S1) and RM2.12 (S2).

Source: Rakuten Research - 28 May 2021

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