Rakuten Trade Research Reports
Technical View - Evergreen Fibreboard Berhad
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Publish date: Tue, 16 Aug 2022, 10:55 AM
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All materials published here are prepared by Rakuten Trade. For latest offers on Rakuten Trade products and news, please refer to: https://www.rakutentrade.my/
To sign up for an account: http://bit.ly/40BNqKI
Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
Evergreen Fibreboard Berhad (EVERGRN, 5101)
• Share price closed 5.9% higher at RM0.54 on Monday.
• EVERGRN is pending breakout from its cup and handle formation. Buying interest is seen to resume today. It is trading above both the MA 20 and MA 50 line and indicators are showing uptick momentum, therefore share price is expected to move higher.
• Resistance levels are identified at RM0.55 (R1) and RM0.58 (R2).
• On the flipside, support levels are pegged at RM0.505 (S1) and RM0.495 (S2).
Source: Rakuten Research - 16 Aug 2022
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