Evergreen Fibreboard Bhd (EVERGRN, 5101)

• Share price closed 1.3% higher at RM0.775 on Monday.

• EVERGRN has been trading on a steep uptrend since mid of March. Since then, its share price is also trading above all its key moving averages.

• Provided the uptrend movement continues, its share price is expected to move higher from its uptrend line which acts as its support.

• Resistance levels are identified at RM0.79 (R1) and RM0.80 (R2).

• On the flipside, support levels are pegged at RM0.76 (S1) and RM0.73 (S2).

Source: Rakuten Research - 6 Apr 2022