Solarvest Holdings Berhad (SLVEST, 0215)

• Share price closed 1.96% higher at RM0.78 on Friday.

• SLVEST has been rebounding from its higher low formed at RM0.73 on 16 August. Buying interests were seen for the past two trading days and share price has been trading above its MA 20 and MA 50 lines. The indicators are also showing uptick momentum, therefore share price is expected to propel higher.

• Resistance levels are identified at RM0.795 (R1) and RM0.81 (R2).

• On the flipside, support levels are pegged at RM0.675 (S1) and RM0.63 (S2).

Source: Rakuten Research - 22 Aug 2022