SDS Group Bhd (SDS, 0212)

• Share price closed 7.58% higher at RM0.71 on Monday.

• SDS had retraced with lower trading volume for the past 2 months. It has formed a support atRM0.64 recently before rebounded mildly with resistance breakout twice at RM0.66 and RM0.705 yesterday. Coupled with a bullish MACD crossover and indicators which are showing uptick momentum, share price is expected to trend higher.

• Resistance levels are identified at RM0.72 (R1) and RM0.77 (R2).

• On the flipside, support levels are pegged at RM0.64 (S1) and RM0.625 (S2).

Source: Rakuten Research - 16 May 2023

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