Systech Bhd (SYSTECH, 0050)

• Share price closed 8.77% higher at RM0.310 on Monday.

• SYSTECH has reversed its downtrend since 6 Dec 2021. There was the first positive MACD histogram together with high buying interest to form a Green Marubozu yesterday.

• Its share price has also closed above all its key moving averages. Backed by upticks in its indicators and buying momentum, SYSTECH is poised to move higher.

• Resistance levels are identified at RM0.340 (R1) and RM0.375 (R2).

• On the flipside, support levels are pegged at RM0.285 (S1) and RM0.265 (S2).

Source: Rakuten Research - 8 Feb 2022