Ancom Nylex Berhad (ANCOMNY, 4758)

• Share price closed 7.03% higher at RM0.99 on Thursday.

• ANCOMNY had a white marubozu candlestick and closed above the MA 20 and MA 50 lines last Thursday with high buying interest. With a bullish MACD crossover and indicators showing uptick, share price is expected to move higher.

• Resistance levels are identified at RM1.02 (R1) and RM1.09 (R2).

• On the flipside, support levels are pegged at RM0.92 (S1) and RM0.905 (S2).

Source: Rakuten Research - 19 Sept 2022