Sunzen Biotech Bhd (SUNZEN, 0148)

• Share price closed 2% higher at RM0.25 on Monday.

• SUNZEN share price traded above the neckline of its rounding bottom formation with higher volume yesterday. It is also trading above all its key moving averages.

• Backed by upticks in its indicators, its share price is expected to move higher if prevailing momentum persists.

• Resistance levels are identified at RM0.255 (R1) and RM0.275 (R2).

• On the flipside, support levels are pegged at RM0.250 (S1) and RM0.230 (S2).

Source: Rakuten Research - 14 Jun 2022