Ipmuda Bhd (IPMUDA, 5673)

• Share price closed 1.1% higher at RM1.80 on Tuesday.

• IPMUDA is trading in an uptrend channel which shows higher lows since end of November. It is also currently trading above all its key moving averages which are trending upwards.

• Coupled with MACD bullish crossover and upticks in its indicators, share price is poised to continue the uptrend movement.

• Resistance levels are identified at RM1.94 (R1) and RM2.16 (R2).

• On the flipside, support levels are pegged at RM1.69 (S1) and RM1.55 (S2).

Source: Rakuten Research - 15 Dec 2021