Rakuten Trade Research Reports
Technical View - Classic Scenic Berhad
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Publish date: Fri, 06 Jan 2023, 02:26 PM
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• Share price closed 2.70% higher at RM1.14 on Thursday.
• CSCENIC is still on a long-term uptrend as it is trading above its MA 200 line. It seems to have found its support at RM1.01 and rebounded after the emergence of buying interests for the past 2 trading days. Coupled with a bullish MACD crossover and indicators showing uptick momentum, share price is expected to rebound further.
• Resistance levels are identified at RM1.16 (R1) and RM1.22 (R2).
• On the flipside, support levels are pegged at RM1.00 (S1) and RM0.99 (S2).
Source: Rakuten Research - 6 Jan 2023
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