Rakuten Trade Research Reports

Technical View - Aimflex Bhd

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Publish date: Tue, 16 Nov 2021, 12:37 PM
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Aimflex Bhd (AIMFLEX, 0209)

• Share price closed 6.45% higher at RM0.165 on Monday.

• AIMFLEX was trading higher after a dragonfly doji candlestick on 10 Nov, signalling a potential trend reversal from short term downtrend to uptrend. There is also a formation of cup and handle since early Oct.

• The share price closed above its MA20 and MA50. Backed by upticks in its indicators, the share price is poised to move higher.

• Resistance levels are identified at RM0.175 (R1) and RM0.195 (R2).

• On the flipside, support levels are pegged at RM0.150 (S1) and RM0.130 (S2).

Source: Rakuten Research - 16 Nov 2021

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