Rakuten Trade Research Reports

Technical View - Infoline Tec Group Berhad

Publish date: Fri, 27 Jan 2023, 11:15 AM
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Infoline Tec Group Berhad (INFOTEC, 0253)

• Share price closed 5.62% higher at RM0.94 on Thursday.

• INFOTEC has been on the uptrend since listed on July 2022. It found a support level at RM0.795 and rebounded mildly to trade above the MA 20 and MA 50 lines currently. Coupled with bullish indicators showing uptick momentum, share price is expected to move higher.

• Resistance levels are identified at RM0.95 (R1) and RM1.10 (R2).

• On the flipside, support levels are pegged at RM0.795 (S1) and RM0.77 (S2).

Source: Rakuten Research - 27 Jan 2023

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