Awanbiru Technology Bhd

• Share price closed 2.41% higher at RM0.425 on Thursday.

• AWANTEC is pending a breakout from its flag formation. It has rebounded from its support level of RM0.385. Buying interest returned after the sell down two months ago. Coupled with a bullish MACD crossover with indicators showing uptick momentum, share price is expected to move higher.

• Resistance levels are identified at RM0.44 (R1) and RM0.50 (R2).

• On the flipside, support levels are pegged at RM0.40 (S1) and RM0.385 (S2).

Source: Rakuten Research - 2 May 2023

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