Technical View - South Malaysia Industries Bhd (SMI, 4375)

• Share price closed 3.8% higher at RM0.410 on Tuesday.

• SMI is trading on an uptrend since mid of March. It also trades above all its key moving averages.

• Coupled with upticks in its RSI indicator, share price is expected to move higher if buying momentum continues.

• Resistance levels are identified at RM0.420 (R1) and RM0.500 (R2).

• On the flipside, support levels are pegged at RM0.395 (S1) and RM0.370 (S2).

Source: Rakuten Research - 1 Jun 2022