MMS Ventures Bhd (MMSV, 0113)

• Share price closed 3.64% higher at RM1.14 on Wednesday.

• MMSV has been trending higher with higher lows shown since 5 Oct. Yesterday, it has shown some buying interest and formed a bullish engulfing pattern.

• The share price is now trading above all key moving averages. Backed by upticks in its indicators, the share price is poised to move higher.

• Resistance levels are identified at RM1.18 (R1) and RM1.29 (R2).

• On the flipside, support levels are pegged at RM1.10 (S1) and RM1.06 (S2).

Source: Rakuten Research - 28 Oct 2021