Dagang Nexchange Bhd (DNEX, 4456)

• DNEX ended 4.9% or 4 sen higher to RM0.85 yesterday.

• Share price is gaining momentum with resistance breakout from RM0.84 along with higher trading volume. Key indicators are showing positive readings with share price trading above the upward sloping moving average line, we expect DNEX to hit higher levels.

• From here, resistance levels are projected at RM0.88 (R1) and next at RM1.05 (R2).

• Conversely, support levels are seen at RM0.77 (S1) and RM0.74 (S2).

Source: Rakuten Research - 9 Jun 2021