GUH Holdings Berhad (GUH, 3247)

• Share price closed 11.6% higher at RM0.48 on Wednesday.

• GUH formed a morning doji star candlestick with strong buying volume yesterday. It announced a better 2Q results on 22nd August of RM1.24m, which was a turnaround from losses recorded in the 1Q. The indicators showed an uptick momentum thus share price is expected to go higher.

• Resistance levels are identified at RM0.49 (R1) and RM0.495 (R2).

• On the flipside, support levels are pegged at RM0.395 (S1) and RM0.39 (S2).

Source: Rakuten Research - 25 Aug 2022