DRB-HICOM Bhd (DRBHICOM, 1619)

• Share price closed 1.48% higher at RM1.37 on Monday.

• DRBHICOM retraced after reaching its 52-week high at Rm1.83 beginning of March. Support is foundat RM1.33 as it has rebounded twice from this level during the past 3 months. A bullish MACD is soon to cross over, and indicators are showing an uptick in momentum. The share price is expected to propel higher.

• Resistance levels are identified at RM1.41 (R1) and RM1.48 (R2).

• On the flipside, support levels are pegged at RM1.33 (R1) and RM1.28 (R2).

Source: Rakuten Research - 30 May 2023

To sign up for an account: http://bit.ly/40BNqKI

[Youtube Tutorial] Account Opening & Enable Foreign Equity: http://bit.ly/3I5Jzxo