Awanbiru Technology Bhd (AWANTEC, 5204)

• AWANTEC closed 2.4% higher at RM0.855 on Monday.
• There is a formation of cup and handle from 30 July to 6 Sept. Its MA20 is also preparing to cross above its MA50, signalling confirmation of uptrend.
• Buying momentum is set to resume along with higher trading volume accompanied by upticks in indicators, hence AWANTEC is poised to move higher.
• Resistance levels are identified at RM0.900 (R1) and RM0.965 (R2).
• On the flipside, support levels are pegged at RM0.805 (S1) and RM0.765 (S2).

Source: Rakuten Research - 14 Sept 2021