Pecca Group Bhd (PECCA, 5271)

• Share price closed 1.48% higher at RM3.42 on Wednesday.

• PECCA is trading above all its key moving averages for the first day in December which can potentially indicate a rebound from its consolidation phase. It is also currently trading at its longterm uptrend line which acts as its support level.

• Coupled with upticks in its RSI indicator and long-term uptrend movement, share price is poised to move higher.

• Resistance levels are identified at RM3.50 (R1) and RM3.62 (R2).

• On the flipside, support levels are pegged at RM3.35 (S1) and RM3.30 (S2).

Source: Rakuten Research - 16 Dec 2021