Theta Edge Bhd (THETA, 9075)

• Share price closed 3.3% higher at RM0.785 on Monday.

• THETA is trading near the neckline of its cup and handle formation (at its current price level) yesterday. It has also managed to trade above both intersection line of MA20 and MA50.

• Coupled with upticks in its indicators and bullish MACD indicator, share price is expected to move higher along with improving trading volume yesterday.

• Resistance levels are identified at RM0.870 (R1) and RM0.940 (R2).

• On the flipside, support levels are pegged at RM0.760 (S1) and RM0.730 (S2).

Source: Rakuten Research - 31 May 2022