MSM Malaysia Holdings Bhd (MSM, 5202)

• MSM closed 1.2% higher at RM1.67 on Tuesday.
• There was a formation of tweezer bottom on Monday and Tuesday. MSM is now trading near its support of uptrend line and MA 20 which has been tested few times since 6 Aug.
• We expect the pattern is likely to repeat hence MSM is poised to reverse from its support to move higher. MSM is also trading above all its key moving averages.
• Resistance levels are identified at RM1.77 (R1) and RM1.98 (R2).
• On the flipside, support levels are pegged at RM1.63 (S1) and RM1.49 (S2).

Source: Rakuten Research - 22 Sept 2021