Rakuten Trade Research Reports

Technical View - Mynews Holdings Bhd (MYNEWS, 5275)

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Publish date: Tue, 17 Aug 2021, 05:43 PM
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• MYNEWS closed 4.4% or 4 sen higher at RM0.95 yesterday.

• The stock touched a low of RM0.815 and recently rebounded with relatively higher trading volume. It has broken past key resistance level of RM0.885 and holding well above the resistance-turnsupport level.

• The MA20 is expected to cross above the MA50 soon to signal a change from consolidation phase to uptrend. With this, there is higher likelihood for the stock to propel towards higher level.

• Resistance levels are anticipated at RM0.980 (R1) and RM1.00 (R2).

• On the contrary, support levels are identified at RM0.885 (S1) and RM0.845 (S2).

Source: Rakuten Research - 17 Aug 2021

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