MyNEWS Holdings Bhd (MYNEWS, 5275)

• MYNEWS closed 1.1% higher at RM0.915 on Tuesday.
• MYNEWS is trending upwards after finding a low at RM0.850 since the spike up on 27 Aug. MYNEWS closed above the crossover of MA20 and MA50 with higher volume. It is also currently trading above all its key moving averages.
• There is also a MACD bullish crossover found in its MACD indicator. Backed by an uptick in RSI, we expect the buying momentum to continue.
• Resistance levels are identified at RM0.980 (R1) and RM1.06 (R2).
• On the flipside, support levels are pegged at RM0.895 (S1) and RM0.850 (S2).

Source: Rakuten Research - 29 Sept 2021