Rakuten Trade Research Reports
Technical View - Resintech Bhd
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Publish date: Wed, 27 Apr 2022, 09:57 AM
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All materials published here are prepared by Rakuten Trade. For latest offers on Rakuten Trade products and news, please refer to: https://www.rakutentrade.my/
To sign up for an account: http://bit.ly/40BNqKI
Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
Resintech Bhd (RESINTC, 7232)
• Share price closed 3.7% higher at RM1.12 on Tuesday.
• RESINTC is trading on a long-term uptrend with higher lows formed. There is also a formation of morning doji star from the last 3 trading days indicating that share price could be supported from current level with its higher lows formation.
• Coupled with its uptick in RSI and expected MACD bullish crossover, its share price is expected to move higher.
• Resistance levels are identified at RM1.14 (R1) and RM1.22 (R2).
• On the flipside, support levels are pegged at RM1.04 (S1) and RM0.96 (S2).
Source: Rakuten Research - 27 Apr 2022
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