Samchem Holdings Bhd (SAMCHEM, 5147)

• Share price closed unchanged at RM0.975 on Thursday.

• SAMCHEM has been trending up from the low of RM0.82 on 8 of March. It is trading on a long-term uptrend and managed to close above all its key moving averages recently.

• Coupled with its recent bullish signal in MACD and upticks in its indicators, its share price is poised to move higher.

• Resistance levels are identified at RM1.02 (R1) and RM1.07 (R2).

• On the flipside, support levels are pegged at RM0.945 (S1) and RM0.920 (S2).

Source: Rakuten Research - 1 Apr 2022