Resintech Bhd (RESINTC, 7232)

• Share price closed 9.0% lower at RM0.91 on Monday.

• RESINTC has fallen onto its MA50 and its long-term uptrend line which can be seen as its support level. Its moving averages are swinging upwards.

• Coupled with uptick in its indicator and long-term uptrend, we anticipate the share price to rebound from its support level soon.

• Resistance levels are identified at RM0.96 (R1) and RM1.07 (R2).

• On the flipside, support levels are pegged at RM0.885 (S1) and RM0.80 (S2).

Source: Rakuten Research - 8 Mar 2022