Rakuten Trade Research Reports
Technical View - Bermaz Auto Bhd
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Publish date: Wed, 25 Jan 2023, 11:04 AM
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Email: customerservice@rakutentrade.my
Bermaz Auto Bhd
• Share price closed 3.33% higher at RM2.17 on Friday.
• BAUTO has been on the upward momentum with active trading volume. It has formed a higher low at RM2.00 and rebounded to trade above all its key moving average lines currently. Coupled with bullish indicators showing uptick momentum, share price is expected to move higher.
• Resistance levels are identified at RM2.18 (R1) and RM2.25 (R2).
• On the flipside, support levels are pegged at RM2.00 (S1) and RM1.98 (S2).
Source: Rakuten Research - 25 Jan 2023
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