Rakuten Trade Research Reports

Technical View - SLP Resources Bhd (SLP, 7248)

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Publish date: Wed, 23 Jun 2021, 03:47 PM
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• SLP closed 2.9% or 3 sen higher to RM1.06 yesterday.

• SLP broke a series of resistance levels of late on the back of higher-than-average volume reinforces bullishness on the buying momentum. With key moving average lines started to slope upward plus encouraging signals from indicators, we believe share price is likely to test higher level.

• Resistance levels are projected at RM1.12 (R1) and next at 52-week high level of RM1.20 (R2).

• For downside support, support levels are set at RM1.00 (S1) and RM0.96 (S2)

Source: Rakuten Research - 23 Jun 2021

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