P.I.E. Industrial Bhd (PIE, 7095)

• Share price closed 0.66% higher at RM3.07 on Friday.

• PIE share price has formed a few higher lows since March signalling the beginning of an uptrend. Last Friday, there is a long lower shadow candlestick which indicates strong support when it hit lower price. It also managed to close above its MA20 & MA20 last Friday.

• Backed by its strong quarter earnings and uptrend movement, its share price is expected to move higher.

• Resistance levels are identified at RM3.27 (R1) and RM3.40 (R2).

• On the flipside, support levels are pegged at RM3.03 (S1) and RM2.93 (S2).

Source: Rakuten Research - 20 Jun 2022