Malaysian Genomics Resource Centre Bhd (MGRC, 0155)

• Share price closed 13.6% higher at RM1.34 on Tuesday.

• MGRC has just broken out from its triangle and resistance level. It also started to close above its MA20 & MA50 yesterday. We also noticed a bullish signal from its MACD indicator.

• Backed by upticks in its indicators plus breakout of resistance, MGRC is poised to move higher.

• Resistance levels are identified at RM1.53 (R1) and RM1.65 (R2).

• On the flipside, support levels are pegged at RM1.27 (S1) and RM1.17 (S2).

Source: Rakuten Research - 16 Feb 2022