Reservoir Link Energy Bhd (RL, 0219)

• Share price closed 5.9% higher at RM0.535 on Monday.

• RL traded higher with higher volume yesterday especially at last trading hour and managed to close above its MA 20.

• Coupled with MACD bullish crossover and upticks in its indicators, share price is poised to continue to rebound and move higher.

• Resistance levels are identified at RM0.575 (R1) and RM0.625 (R2).

• On the flipside, support levels are pegged at RM0.490 (S1) and RM0.470 (S2).

Source: Rakuten Research - 14 Dec 2021