Tri-Mode System (M) Bhd (TRIMODE, 0199)

• TRIMODE closed 2.8% lower at RM0.685 on Friday.
• TRIMODE has been trading along the ascending channel in a zig-zag manner since early August. Currently, it is touching the lower band of ascending channel which acts as a strong support.
• Provided that the share price continues to trade above the lower band of the ascending channel on Monday, its uptrend remains intact hence a reversal is expected.
• Resistance levels are identified at RM0.725 (R1) and RM0.770 (R2).
• On the flipside, support levels are pegged at RM0.670 (S1) and RM0.640 (S2).

Source: Rakuten Research - 4 Oct 2021