Rakuten Trade Research Reports

Technical View - Systech Bhd

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Publish date: Fri, 22 Apr 2022, 09:47 AM
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Systech Bhd (SYSTECH, 0050)

• Share price closed 6.82% higher at RM0.235 on Thursday.

• Bullish engulfing candlestick was formed amid the higher buying interest. It managed to close above all its key moving average lines as well.

• Coupled with uptick in RSI and MACD indicators, the share price is expected to move higher.

• Resistance level is identified at RM0.235 (R1) and RM0.245 (R2).

• On the flipside, support levels are pegged at RM0.21 (S1) and RM0.195 (S2).

Source: Rakuten Research - 22 Apr 2022

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