Rakuten Trade Research Reports
Technical View - Mi Technovation Bhd (MI, 5286)
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Publish date: Mon, 02 Aug 2021, 03:25 PM
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Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
• MI ended 4.0% or 15 sen higher to RM3.89 last Friday.
• Share price is gaining momentum with formation of higher highs since hitting the low of RM2.99 in May 2021. We expect MI to extend its buying force and to break its immediate resistance of RM3.95 and potentially to test higher level.
• Resistance levels are projected at RM4.00 (R1) and next at RM4.22 (R2).
• For downside support, support levels are pegged at RM3.68 (S1) and RM3.56 (S2).
Source: Rakuten Research - 2 Aug 2021
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