Genetec Technology Bhd (GENETEC, 0104)

• Share price closed 3.1% higher at RM2.62 on Thursday.

• GENETEC has broken out from its downtrend line recently and managed to close above its key moving averages from the past 2 trading days.

• Coupled with upticks in its indicators and bullish MACD crossover, we anticipate the share price to continue its rebounding trend.

• Resistance levels are identified at RM2.78 (R1) and RM2.95 (R2).

• On the flipside, support levels are pegged at RM2.30 (S1) and RM1.90 (S2).

Source: Rakuten Research - 25 Mar 2022