Rakuten Trade Research Reports
Technical View - Choo Bee Metal Industries Bhd (CHOOBEE, 5797)
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Publish date: Thu, 26 May 2022, 11:03 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
• Share price closed 4.1% higher at RM2.31 on Wednesday.
• CHOOBEE broke out from its rounding bottom formation yesterday with a long green candlestick. Its share price is also trading on midterm uptrend since March and has managed to trade above all its key moving averages.
• Coupled with upticks in its indicators and bullish MACD indicator, its share price is expected to continue its upward movement.
• Resistance levels are identified at RM2.39 (R1) and RM2.54 (R2).
• On the flipside, support levels are pegged at RM2.27 (S1) and RM2.18 (S2).
Source: Rakuten Research - 26 May 2022
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