Texchem Resources Bhd

• Texchem Resources Berhad (TEXCHEM, 8702)

• Share price closed 5.71% higher at RM1.85 on Tuesday.

• TEXCHEM rebounded from its second support level of RM1.58 with high trading interest recently. With bullish MACD crossover and the indicators showing uptick movement, the share price is expected to move higher.

• Resistance levels are identified at RM1.86 (R1) and RM1.90 (R2).

• On the flipside, support levels are pegged at RM1.74 (S1) and RM1.58 (S2).

Source: Rakuten Research - 8 Mar 2023

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