• HIAPTEK closed 6.42% higher at RM0.580 on Monday.

• There was a formation of symmetrical triangle since 12 May. Recently, HIAPTEK broke out above its resistance of RM0.560 and is trading above all its key moving average line. Coupled with its bullish signal shown in MACD, there is a high possibility for the stock to challenge higher levels.

• Hence, resistance levels are identified at RM0.615 (R1) and RM0.645 (R2).

• On the contrary, support levels are pegged at RM0.560 (S1) and RM0.520 (S2).

Source: Rakuten Research - 1 Sept 2021