• Share price closed 9.5% higher at RM0.635 on Monday.
• QES is trading up and formed a White Marubozu candlestick with higher trading volume on Monday. Its share price is also trading above its MA20 & MA50.
• Coupled with upticks in its indicators, its share price is expected to move higher.
• Resistance levels are identified at RM0.705 (R1) and RM0.765 (R2).
• On the flipside, support levels are pegged at RM0.665 (S1) and RM0.615 (S2).
Source: Rakuten Research - 18 May 2022
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