Cengild Medical Berhad (CENGILD, 0243)

• Share price closed 3.15% higher at RM0.49 on Friday.

• CENGILD has rebounded from its support at RM0.405 with decent trading interests. It is now trading above all its key moving average lines, indicating its uptrend momentum. As the indicators are showing uptick momentum, the share price is expected to trend higher.

• Resistance levels are identified at RM0.50 (R1) and RM0.58 (R2).

• On the flipside, support levels are pegged at RM0.41 (R1) and RM0.405 (R2).

Source: Rakuten Research - 31 Oct 2022