Rakuten Trade Research Reports

Technical View - Chin Hin Group Berhad

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Publish date: Wed, 13 Jul 2022, 10:06 AM
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Chin Hin Group Berhad (CHINHIN, 5273)

• Share price closed 7.67% higher at RM3.37 on Tuesday.

• CHINHIN share price has been downward trending since May and had tried to rebound twice after finding its support at RM3.11. The bullish engulfing candlestick was formed yesterday with a chance to copy the previous pattern. With the RSI indicator showing uptick movement and bullish MACD formed, the share price is expected to move higher.

• Resistance levels are identified at RM3.45 (R1) and RM3.50 (R2).

• On the flipside, support levels are pegged at RM3.11 (S1) and RM3.06 (S2).

Source: Rakuten Research - 13 Jul 2022

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