Swift Haulage Berhad (SWIFT, 5303)

• Share price closed 7.5% higher at RM0.575 on Thursday.

• SWIFT broke out from its resistance level yesterday at RM0.57 with relatively higher buying interest. It is now standing above the MA 20 and MA 50 lines. Its indicators are showing uptick momentum, therefore share price is expected to move higher.

• Resistance levels are identified at RM0.645 (R1) and RM0.67 (R2).

• On the flipside, support levels are pegged at RM0.525 (S1) and RM0.485 (S2).

Source: Rakuten Research - 12 Aug 2022