Lagenda Properties Bhd (LAGENDA, 7179)

• Share price closed 2.7% higher at RM1.53 on Friday.

• LAGENDA has been rebounding and form an uptrend channel after its bullish engulfing candlestick on 9 Mar 2022 indicating strong reversal of previous price weakness. It also closed above all key moving averages.

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

• Resistance levels are identified at RM1.56 (R1) and RM1.65 (R2).

• On the flipside, support levels are pegged at RM1.49 (S1) and RM1.42 (S2).

Source: Rakuten Research - 11 Apr 2022