Rakuten Trade Research Reports

Technical View - Pentamaster Corporation Bhd

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Publish date: Thu, 23 Sep 2021, 11:19 AM
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Pentamaster Corporation Bhd (PENTA, 7160)

  • PENTA closed 3.9% higher at RM5.53 on Wednesday.
  • PENTA has spiked up from the consolidation with higher volume. It is also trending above all its key moving averages for the first time since 16 August.
  • Buying momentum is set to resume along with higher trading volume accompanied by upticks in indicators, hence PENTA is poised to move higher.
  • Resistance levels are identified at RM5.66 (R1) and RM5.83 (R2).
  • On the flipside, support levels are pegged at RM5.16 (S1) and RM4.87 (S2).

Source: Rakuten Research - 23 Sept 2021

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