Hiap Teck Venture Bhd (HIAPTEK, 5072)

• Share price closed 1.0% higher at RM0.52 on Thursday.

• HIAPTEK gained substantial buying interests over the last 2 trading days. It has formed high lows recently to confirm an uptrend movement. On Wednesday, its share price also managed to close above its MA20 & MA50.

• Backed by upticks in its indicators and uptrend movement, HIAPTEK is poised to move higher.

• Resistance levels are identified at RM0.525 (R1) and RM0.545 (R2).

• On the flipside, support levels are pegged at RM0.500 (S1) and RM0.485 (S2).

Source: Rakuten Research - 14 Jan 2022