Pecca Group Berhad (PECCA, 5271)

• Share price closed 4.3% higher at RM0.725 on Wednesday.

• PECCA broke out from its resistance twice yesterday at RM0.695 and RM0.72 and formed 3 white soldiers over the past 3 trading days. It is currently trading above its MA 20 and MA 50 lines. As the indicators are showing uptick movements, share price is expected to move higher.

• Resistance levels are identified at RM0.75 (R1) and RM0.76 (R2).

• On the flipside, support levels are pegged at RM0.64 (S1) and RM0.62 (S2).

Source: Rakuten Research - 28 Jul 2022