Rakuten Trade Research Reports

Technical View - RGT Berhad

Publish date: Mon, 05 Dec 2022, 11:58 AM
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RGT Berhad (RGTBHD, 9954)

• Share price closed 1.20% higher at RM0.42 on Friday.

• RGTBHD has been on a short-term uptrend since hitting the lower levels in July to September. It had also recently rebounded from its higher low formed at RM0.37 and currently trading above all its key moving average lines. Coupled with MACD crossover and bullish indicators, share price is expected to trend higher.

• Resistance levels are identified at RM0.44 (R1) and RM0.455 (R2).

• On the flipside, support levels are pegged at RM0.37 (S1) and RM0.365 (S2).

Source: Rakuten Research - 5 Dec 2022

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