![](/pub/blog/bl24/salutica_20211008102052.png)
Salutica Bhd (SALUTE, 0183)
- Share price closed 6.77% higher at RM0.710 yesterday.
- SALUTE traded higher with relatively higher volume and formed a bullish engulfing pattern. Its MA50 seems to be a strong support as it trended higher along its MA50 since mid of Sept.
- Currently, SALUTE is trading above all its key moving averages.
- Resistance levels are identified at RM0.735 (R1) and RM0.765 (R2).
- On the flipside, support levels are pegged at RM0.665 (S1) and RM0.610 (S2).
![](/pub/blog/bl24/saluticaa_20211008102056.png)
Source: Rakuten Research - 8 Oct 2021