Ancom Nylex Berhad (ANCOMNY, 4758)

• Share price closed 2.83% higher at RM1.09 on Thursday.

• ANCOMNY has been down trending from its peak at RM1.26 in early February. Selling pressure hasbeen on-going for the past 2 months. Nevertheless, a minor rebound was seen yesterday. In view of the upcoming 3Q quarter result announcement next week, and indicators showing uptick momentum, prevailing rebound momentum is expected to persist.

• Resistance levels are identified at RM1.12 (R1) and RM1.16 (R2).

• On the flipside, support levels are pegged at RM1.03 (S1) and RM1.01 (S2).

Source: Rakuten Research - 14 Apr 2023

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