Rakuten Trade Research Reports
Technical View - Coastal Contracts Berhad
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Publish date: Tue, 02 Aug 2022, 11:26 AM
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To sign up for an account: http://bit.ly/40BNqKI
Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
Coastal Contracts Berhad (COASTAL, 5071)
• Share price closed 4.1% higher at RM1.77 on Monday.
• COASTAL share price has formed a rounding bottom. Yesterday it broke it resistance level at RM1.72 during opening and closed above its MA 50 line. Coupled with high crude oil price and upticks in its momentum, share price is expected to move higher.
• Resistance levels are identified at RM2.03 (R1) and RM2.06 (R2).
• On the flipside, support levels are pegged at RM1.69 (S1) and RM1.66 (S2).
Source: Rakuten Research - 2 Aug 2022
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