Ecomate Holdings Bhd (ECOMATE, 0239)

• Share price closed 1% higher at RM0.52 on Monday.

• ECOMATE share price has formed a continuous rebound since 15 June 2022 and closed above both the MA20 and MA50 yesterday.

• Backed by upticks in its indicators, its share price is expected to continue with its rebound and a MACD bullish crossover is expected.

• Resistance levels are identified at RM0.530 (R1) and RM0.555 (R2).

• On the flipside, support levels are pegged at RM0.515 (S1) and RM0.495 (S2).

Source: Rakuten Research - 21 Jun 2022