Rakuten Trade Research Reports

Technical View - My E.G. Services Bhd

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Publish date: Thu, 23 Jun 2022, 12:32 PM
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My E.G. Services Bhd (MYEG, 0138)

• Share price closed unchanged at RM0.865 on Wednesday.

• MYEG has formed bullish engulfing candlestick on 20 June and 21 June signalling potential end of its downtrend movement. There is also a tweezer bottom formation on those two days which acts as reversal signal.

• Backed by its reversal signal, we believe its share price is expected to move higher in the short term.

• Resistance levels are identified at RM0.920 (R1) and RM0.955 (R2).

• On the flipside, support levels are pegged at RM0.850 (S1) and RM0.835 (S2).

Source: Rakuten Research - 23 Jun 2022

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