Rakuten Trade Research Reports
Technical View - Texchem Resources Berhad
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Publish date: Fri, 22 Jul 2022, 10:00 AM
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Email: customerservice@rakutentrade.my
Texchem Resources Berhad (TEXCHEM, 8702)
• Share price closed 6.34% higher at RM2.85 on Thursday.
• TEXCHEM broke out from its resistance of RM2.805 yesterday and closed above its MA 20 line. With bullish MACD crossover and the indicators showing uptick movement, the share price is expected to move higher.
• Resistance levels are identified at RM2.89 (R1) and RM3.19 (R2).
• On the flipside, support levels are pegged at RM2.38 (S1) and RM2.04 (S2).
Source: Rakuten Research - 22 Jul 2022
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ChrisCrist
Texchem Resources Berhad's (TEXCHEM, 8702) recent surge to RM2.85, up 6.34%, signals a bullish breakout post-resistance at RM2.805. Supported by a MACD crossover and positive indicators, TEXCHEM looks poised for further gains, targeting RM2.89 (R1) and RM3.19 (R2). Investors eyeing strategic entries might find this trend promising, akin to mastering the strategic moves in wordle game.
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