Tomypak Holdings Bhd (TOMYPAK, 7285)

• Share price closed 10.23% higher at RM0.485 on Friday.

• TOMYPAK has shown a strong rebound from its price gap down on 20 Dec 2021 with higher trading volume which indicates heavy bargain hunting activity. It managed to close above its MA20 for the first time since the sharp price gap down.

• Backed by upticks in RSI and MACD indicators, TOMYPAK is poised to move higher.

• Resistance levels are identified at RM0.545 (R1) and RM0.585 (R2).

• On the flipside, support levels are pegged at RM0.480 (S1) and RM0.415 (S2).

Source: Rakuten Research - 27 Dec 2021