Pantech Group Holdings Bhd (PANTECH, 5125)

• Share price closed 0.8% higher at RM0.65 on Friday.

• PANTECH has broken out from its consolidation phase on the last two trading days. Its share price has also trended above all its key moving averages after the recent price weaknesses.

• Coupled with uptick in its indicators and expected MACD bullish crossover, we anticipate the share price to move higher.

• Resistance levels are identified at RM0.660 (R1) and RM0.700 (R2).

• On the flipside, support levels are pegged at RM0.615 (S1) and RM0.600 (S2).

Source: Rakuten Research - 14 Mar 2022