QES Group Bhd (QES, 0196)

• Share price closed 4.7% higher at RM0.78 on Tuesday.

• QES is forming a double bottom from 30 September onwards and closed above all its moving average with higher volume.

• There is also a golden MACD crossover seen in the MACD indicator. Backed by upticks in its indicators, the share price is poised to move higher.

• Resistance levels are identified at RM0.820 (R1) and RM0.975 (R2).

• On the flipside, support levels are pegged at RM0.775 (S1) and RM0.730 (S2).

Source: Rakuten Research - 3 Nov 2021