Rakuten Trade Research Reports
Technical View - Pestech International Bhd
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Publish date: Wed, 09 Feb 2022, 11:06 AM
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All materials published here are prepared by Rakuten Trade. For latest offers on Rakuten Trade products and news, please refer to: https://www.rakutentrade.my/
To sign up for an account: http://bit.ly/40BNqKI
Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
Pestech International Bhd (PESTECH, 5219)
• Share price closed 6.2% higher at RM0.775 on Tuesday.
• PESTECH broke out on high volume from its midterm downtrend and form a Green Marubozu candlestick yesterday. We also noticed a MACD bullish crossover indicating potential continuation of rebound.
• Backed by upticks in its indicators and buying momentum, PESTECH is poised to move higher.
• Resistance levels are identified at RM0.830 (R1) and RM0.870 (R2).
• On the flipside, support levels are pegged at RM0.760 (S1) and RM0.710 (S2).
Source: Rakuten Research - 9 Feb 2022
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