Rakuten Trade Research Reports

Technical View - Samchem Holdings Berhad

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Publish date: Thu, 22 Sep 2022, 10:00 AM
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Samchem Holdings Berhad (SAMCHEM, 5147)

• Share price closed 2.58% higher at RM0.795 on Wednesday.

• SAMCHEM is pending a breakout from its consolidation phase and closed above its MA 20 and MA 50 lines. With a bullish MACD crossover and indicators showing uptick movement, share price is expected to move higher.

• Resistance levels are identified at RM0.80 (R1) and RM0.815 (R2).

• On the flipside, support levels are pegged at RM0.765 (S1) and RM0.755 (S2).

Source: Rakuten Research - 22 Sept 2022

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