Rakuten Trade Research Reports

Technical View - BP Plastics Holding Berhad

Publish date: Thu, 18 Aug 2022, 12:26 PM
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BP Plastics Holding Berhad (BPPLAS, 5100)

• Share price closed 6.15% higher at RM1.38 on Wednesday.

• BPPLAS broke out from its resistance levels twice yesterday at RM1.31 and RM1.33 and formed a white marubozu candlestick. The indicators are also showing uptick momentum, therefore share price is expected to propel higher.

• Resistance levels are identified at RM1.44 (R1) and RM1.46 (R2).

• On the flipside, support levels are pegged at RM1.26 (S1) and RM1.23 (S2).

Source: Rakuten Research - 18 Aug 2022

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