Rakuten Trade Research Reports
Technical View - Innoprise Plantations Bhd
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Publish date: Wed, 23 Mar 2022, 10:21 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
Innoprise Plantations Bhd (INNO, 6262)
• Share price closed 4.7% higher at RM1.79 on Tuesday.
• INNO has broken out from its consolidation phase to form a Green Marubozu candlestick indicating potential strong rebound. It is trading above both MA20 and MA50 currently.
• Coupled with upticks in its indicators and recent uptrend in Brent Crude Oil prices, we anticipate the share price to continue its rebounding trend.
• Resistance levels are identified at RM1.93 (R1) and RM2.03 (R2).
• On the flipside, support levels are pegged at RM1.71 (S1) and RM1.58 (S2).
Source: Rakuten Research - 23 Mar 2022
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