Ramssol Group Berhad (RAMSSOL, 0236)

• Share price closed 2.5% higher at RM 0.41 on Friday.

• RAMSSOL shares price has been on a consolidation phase hovering below its MA 20 line. However, a mild rebound was seen with significant buying interest last Friday. Share price is now above its MA 20 and MA 50 lines. Coupled with indicators showing uptick momentum, the share price is expected to propel higher.

• Resistance levels are identified at RM0.415 (R1) and RM0.42 (R2).

• On the flipside, support levels are pegged at RM0.37 (S1) and RM0.36 (S2).

Source: Rakuten Research - 12 Dec 2022