Revenue Group Bhd (REVENUE, 0200)

• REVENUE ended 5.9% or 11 sen higher to RM1.99 yesterday.

• The stock is gaining traction as it formed a positive breakout from a minor consolidation yesterday accompanied by higher trading volume. This implies the re-emergence of buying interest and we expect the momentum to persist.

• From here, resistance levels are projected at RM2.10 (R1) and next at RM2.15 (R2).

• Conversely, support levels are at RM1.87 (S1) and RM1.82 (S2).

Source: Rakuten Research - 6 Aug 2021