Puncak Niaga Holdings Berhad (PUNCAK, 6807)

• Share price closed 11.90% higher at RM0.235 on Thursday.

• PUNCAK broke out from its resistance level twice yesterday at RM0.23 and RM0.235 respectivelywith high buying volume. White Marubozu candlestick was formed yesterday indicated its strong trading momentum. Coupled with indicators are showing uptick momentum, the share price is expected to trend higher.

• Resistance levels are identified at RM0.235 (R1) and RM0.25 (R2).

• On the flipside, support levels are pegged at RM0.21 (R1) and RM0.205 (R2).

Source: Rakuten Research - 7 Apr 2023

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