Solution Group Bhd (SOLUTN, 0093)

• SOLUTION advanced 7.9% or 6.5 sen to RM0.89 last Friday.

• The stock broke out from a minor consolidation phase last Friday with higher volume. Key technical indicator MACD is displaying positive signs while RSI which has bounced off from oversold level suggesting renewed buying interest. With such developments, there is higher likelihood for the stock to move higher.

• Resistance levels are projected at RM0.965 (R1) and RM1.05 (R2).

• On the contrary, support levels are identified at RM0.815 (S1) and RM0.790 (S2).

Source: Rakuten Research - 23 Aug 2021