Rakuten Trade Research Reports

Technical View - Nestcon Bhd

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Publish date: Wed, 05 Jan 2022, 12:09 PM
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Nestcon Bhd (Nestcon, 0235)

• Share price closed 6.41% higher at RM0.415 on Tuesday.

• Nestcon has been in a consolidation mode since end November 2021 but showed a breakout yesterday to close higher with strong buying volume.

• Backed by the upticks in its indicators, Nestcon is poised to move higher.

• Resistance levels are identified at RM0.435 (R1) and RM0.47 (R2).

• On the flipside, support levels are pegged at RM0.365 (S1) and RM0.35 (S2).

Source: Rakuten Research - 5 Jan 2022

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