Rakuten Trade Research Reports

Technical View - Awanbiru Technology Bhd

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Publish date: Tue, 14 Sep 2021, 12:40 PM
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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

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